 "Nifty")
Shares of RattanIndia Enterprises hit 5 per cent upper circuit at Rs 10.15 on the BSE in intra-day session on Thursday after the company announced that it is venturing into electric vehicle (EV) space by acquiring a substantial strategic stake in EV two-wheeler maker Revolt Intellicorp.
As part of the deal, RattanIndia Enterprises will have 50 per cent board presence in Revolt Intellicorp and Rajiv Rattan will be chairman of the board of Revolt. The deal has been priced at Rs 150 crore. Revolt Intellicorp is a next-gen mobility company, promoted by Rahul Sharma, co-founder of Micromax.
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As part of the deal, RattanIndia Enterprises will have 50 per cent board presence in Revolt Intellicorp and Rajiv Rattan will be chairman of the board of Revolt. The deal has been priced at Rs 150 crore. Revolt Intellicorp is a next-gen mobility company, promoted by Rahul Sharma, co-founder of Micromax.
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