Rithwik Facility Management Loses Control of Subsidiary After Private Placement

Rithwik Facility Management Services Limited has experienced a significant change in its corporate structure, losing control of its subsidiary Rithwik Indus Power Private Limited following a private placement that reduced its shareholding to 27.78%.

Shareholding Reduction Details

The company's stake in Rithwik Indus Power was substantially diluted after the subsidiary conducted a private placement on November 10, 2025. This development marks a dramatic shift from the company's previous 100% ownership position.

New Shareholding Pattern

Following the private placement, Rithwik Indus Power's ownership structure has been restructured with new shareholders entering the company:

Background and Regulatory Compliance

The company had initially acquired 100% stake in Rithwik Indus Power Private Limited on May 9, 2025, making it a wholly owned subsidiary. However, when the subsidiary required additional capital investment, Rithwik Facility Management's shareholders deferred the proposal and provided a No Objection Certificate (NOC) for allotting shares to new investors under private placement.

The development has been communicated to the Bombay Stock Exchange under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, ensuring compliance with disclosure requirements.

Corporate Impact

This shareholding reduction represents a significant strategic shift for Rithwik Facility Management Services Limited. The company has ceased to be the holding company of Rithwik Indus Power with effect from November 10, 2025, fundamentally altering the corporate relationship between the two entities.

The decision to allow dilution rather than invest additional capital suggests a strategic choice by the company's shareholders to limit further exposure to the subsidiary's capital requirements while maintaining a minority stake in the entity.