RITES Sells Entire Stake in Elicius Energy for ₹60,545

RITES Limited's Board of Directors has approved the sale of its entire equity shareholding in its associate company, Elicius Energy Private Limited. RITES held 1,573 shares, representing 13% of Elicius Energy's equity. The shares are being transferred to Dr. Raghunathan Rengasamy, Promoter and Director of Elicius Energy, at a fair value of ₹38.49 per share. The total consideration for the sale amounts to ₹60,544.77. This transaction is expected to be completed by September 30, 2026. Upon completion, Elicius Energy will no longer be an associate of RITES. The company confirmed this is not a related party transaction.