RattanIndia Power promoters disclose indirect share transfer to family trusts

On November 21, 2025, Rajiv Rattan and Anjali Nashier disclosed an indirect transfer of voting rights in RattanIndia Power Limited, exceeding thresholds under SEBI Takeover Regulations. This involved contributing equity shares and partnership interests in Nettle Constructions Private Limited and Arbutus Consultancy LLP to family trusts via inter-se transfers, as part of an estate planning exercise. Both Nettle and Arbutus LLP directly/indirectly hold shares in entities within the company’s promoter and promoter group.

Rajiv Rattan contributed 9,600 equity shares of Nettle, representing 96% of its share capital, to Acquirer 1 and Acquirer 2 equally. He also contributed 48% partnership interest in Arbutus LLP to Acquirer 1 and Acquirer 2 equally. Anjali Nashier contributed 48% partnership interest in Arbutus LLP to Acquirer 3 and Acquirer 4 equally. This arrangement means Acquirers 1-4 collectively gained indirect control over 44.06% of voting rights in RattanIndia Power Limited.

Despite these transfers, the overall shareholding of the 'promoter & promoter group' in RattanIndia Power Limited remains unchanged. RattanIndia Enterprises Limited, which holds 19.81% of the company, is controlled by Arbutus and Nettle, both part of the promoter group. Nettle also indirectly holds 100% of RR Infralands Private Limited, which in turn holds 24.25% in the company.