Rithwik Facility Management Loses Control of Subsidiary After Private Placement
Rithwik Facility Management Services Limited has lost control of its subsidiary Rithwik Indus Power Private Limited after the subsidiary's private placement reduced the company's stake from 100% to 27.78%. The private placement, conducted on November 10, 2025, brought in new shareholders including RR Industries Limited as the majority owner with 69.48% stake, effectively ending Rithwik Facility Management's holding company status.