RattanIndia Enterprises Limited 's wholly-owned subsidiary, NeoSky India Limited, has forged a significant partnership with the Karnataka Government to enhance security measures through drone technology deployment. This collaboration marks a substantial step forward in integrating advanced surveillance systems into law enforcement and administration.

Drone Deployment and Future Plans

NeoSky has already supplied drones to the Kalaburagi district administration and is set to provide an additional 60 Tavas drones to the Karnataka Police. The Tavas drone, known for its foldable design, features swappable payloads and six-sided obstacle avoidance using LiDAR technology.

At an event presided over by Karnataka Home Minister Shri Gangadharaiah Parameshwara, NeoSky officially handed over NS01 and Nimble-i surveillance drones to the Kalaburagi administration. The NS01 is a micro drone weighing approximately 550 grams, equipped with a day camera, while the Nimble-I boasts day & night surveillance capabilities, swappable payloads, and AI-enabled features.

Government Vision and Support

Shri Gangadharaiah Parameshwara, Home Minister of Karnataka, expressed the government's vision, stating, "Our vision is to equip every police station in the State with drones. These drones will enhance the agility and responsiveness of our forces. Their indigenous design reflects how local innovation can serve public interest."

Skilling Initiative

NeoSky has partnered with the Karnataka government to launch a major skilling initiative. The company will train 500 youth from Kalaburagi district, providing them with DGCA-approved drone pilot licenses. This initiative was announced by Shri Priyank Kharge, Minister for IT, BT, Rural Development & Panchayat Raj.

Commenting on this initiative, Shri Kharge said, "Our technological strength should become a catalyst for rural transformation and throw open opportunities. Drones are among the fastest-growing sectors globally. By training our youth in cutting-edge drone technology, we are preparing them for future jobs while fostering local innovation and tech-driven ecosystems."

NeoSky's Expertise and Reach

NeoSky has been actively collaborating with Indian armed forces, paramilitary forces, and state police to support the nation's evolving security needs. The company holds a 10-year DGCA license to train and certify drone pilots in India and is currently training 500 graduates and postgraduates from agricultural universities.

Mrs. Anjali Rattan, Chairperson of RattanIndia Enterprises Limited, commented on the partnership, saying, "NeoSky's partnership with the Government of Karnataka reflects our deep commitment to building a safer and more self-reliant India. Supplying 60 Tavas drones is a step forward in that mission. But what excites me even more is welcoming 500 youth from North Karnataka into our drone skilling programme—because real impact happens when technology uplifts lives."

About RattanIndia Enterprises

RattanIndia Enterprises Limited (REL) is the flagship company of the RattanIndia Group, focusing on building and scaling new-age, technology-led businesses in India. As a public-listed company with a market capitalization of approximately ₹7,000.00 crore, REL is featured in the Fortune 500 India list. The company is driving innovation across various sectors including Electric Mobility (Revolt Motors), E-commerce (Cocoblu Retail), Fashion Brands (Neo Brands), Fintech, and Drones (Neosky).

This partnership between NeoSky and the Karnataka Government represents a significant step towards enhancing security measures and creating skilled employment opportunities in the rapidly growing drone technology sector.

Rattan India Enterprises Ltd, a diversified company, has taken a significant step towards bolstering its financial position. The company's board has approved the formation of a dedicated committee to explore and execute fund-raising opportunities, signaling a proactive approach to capital management.

Committee Formation

The company has greenlit the creation of a specialized committee tasked with overseeing the fund-raising process. This strategic move suggests that RattanIndia Enterprises is positioning itself for potential growth or expansion, though the specific objectives behind this initiative remain undisclosed.

Implications of Fund Raising

While the exact details of the fund-raising plans, including the target amount and intended use of the capital, have not been revealed, this development could have several implications for the company:

• Growth Initiatives: The additional capital could be earmarked for funding new projects or expanding existing operations.
• Debt Management: The funds might be used to restructure existing debt or improve the company's overall financial health.
• Market Position: A successful fund-raise could strengthen RattanIndia Enterprises' market position and provide a competitive edge.
• Investor Confidence: The move to raise funds might be seen as a positive signal by investors, potentially impacting market sentiment.

Next Steps

Shareholders and market observers will likely be keen to learn more about the specifics of the fund-raising plans as they are developed. The company is expected to provide further details on the size, structure, and purpose of the potential capital raise in future announcements.

As RattanIndia Enterprises moves forward with this initiative, it will be crucial for investors to stay tuned for updates on the progress and outcomes of the newly formed committee's efforts.

Note: This article is based on the latest available information. Investors are advised to conduct their own research and consult financial advisors before making investment decisions.