In a notable corporate action, Rattan India Enterprises Limited has undergone a significant restructuring of its ownership structure through an internal estate planning exercise. Four family trusts have indirectly acquired substantial voting rights in the company, marking a shift in control without altering the overall promoter group shareholding.

Key Points of the Restructuring

• Acquiring Entities: Rajiv Rattan Family Trust, Rajiv Rattan Family Trust 2, Anjali Nashier Family Trust, and Anjali Nashier Family Trust 2
• Method of Acquisition: Indirect acquisition of voting rights through contribution of shares and partnership interests
• Entities Involved:
  • Nettle Constructions Private Limited
  • Arbutus Consultancy LLP

Breakdown of Acquired Voting Rights

Transaction Details

1. Nettle Constructions Private Limited:

   • Rajiv Rattan contributed 96% of Nettle's equity shares to his family trusts
   • This gives the trusts indirect control over approximately 46.89% voting rights in Rattan India Enterprises

2. Arbutus Consultancy LLP:

   • Rajiv Rattan and Anjali Nashier each contributed 48% partnership interest to their respective family trusts
   • This results in the four trusts collectively controlling 27.79% voting rights through Arbutus LLP

Impact on Shareholding

Despite the significant restructuring, it's important to note that the total promoter group shareholding in Rattan India Enterprises remains unchanged. This transaction appears to be purely an internal reorganization for estate planning purposes.

Conclusion

This restructuring represents a significant shift in the control structure of Rattan India Enterprises, although it does not change the overall promoter group holding. Such moves are often made for succession planning, tax efficiency, or other strategic reasons within family-owned businesses. Shareholders and market watchers may be keen to see if this change in voting rights control leads to any shifts in the company's strategic direction or governance in the coming months.

Rattan India Enterprises Limited (REL), a diversified company with interests in new-age businesses, has reported a significant loss for the second quarter of fiscal year 2026. The company's financial performance reflects challenging market conditions and fair value changes in its investments.

Key Financial Highlights

• Net Loss: REL reported a net loss of Rs 3,966.00 million in Q2 FY26, compared to a profit of Rs 5,023.00 million in the previous quarter.
• Total Income: The company's total income for the quarter was Rs 24,275.00 million, up from Rs 23,467.00 million in the previous quarter.
• Fair Value Changes: The loss was primarily driven by a net loss on fair value changes of Rs 4,575.00 million related to investments in equity shares of Rattan India Power Limited due to market price movements.

Business Overview

Rattan India Enterprises operates as an unregistered Core Investment Company, focusing on investments in technology-driven businesses. Its portfolio includes:

1. Retail E-commerce
2. Electric Vehicles
3. Fintech
4. Drones

These investments are made through subsidiary companies, positioning REL in various high-growth sectors.

Financial Approval

The Board of Directors approved these unaudited financial results at a meeting held on November 11, 2025.

Market Impact

The significant swing from profit to loss, primarily due to fair value changes, highlights the volatility in REL's investment portfolio. This underscores the impact of market movements on the company's financial performance, particularly in its investments in related entities like Rattan India Power Limited.

Future Outlook

While the company faces challenges due to market volatility affecting its investments, its diverse portfolio in technology-focused businesses may provide opportunities for growth. Investors and stakeholders will likely be watching closely to see how REL manages its investment risks and capitalizes on its strategic positions in emerging sectors.

The company's performance in the coming quarters will be crucial in determining whether this loss is a temporary setback due to market conditions or if it signals a need for a reassessment of its investment strategy.