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{{Short description|Indian electric power company}}
{{Use dmy dates|date=June 2022}}
{{Use Indian English|date=June 2022}}
[[File:RattanIndia Logo.jpg|right|thumb|RattanIndia logo]]
'''RattanIndia Enterprises Ltd''', formerly '''RattanIndia Infrastructure Ltd.''', is an Indian company that is involved in the energy sector.

The traditional focus of the company was on coal and thermal power; however, the company has expanded its scope more recently, focusing more on [[emerging technologies]] and e-commerce.

The company supplies electricity to Maharashtra state and uses coal from South Coalfields Limited and Mahanadi Coalfields Limited.<ref>{{Cite web|last=ltd|first=Research and Markets|title=RattanIndia Power Ltd (RTNPOWER) - Financial and Strategic SWOT Analysis Review|url=https://www.researchandmarkets.com/reports/4278545/rattanindia-power-ltd-rtnpower-financial-and|access-date=2021-12-10|website=www.researchandmarkets.com|language=english|archive-date=19 December 2021|archive-url=https://web.archive.org/web/20211219120331/https://www.researchandmarkets.com/reports/4278545/rattanindia-power-ltd-rtnpower-financial-and|url-status=live}}</ref>

==History==
Rattan India was the outcome of the split of [[Indiabulls]] where the energy component was named as RattanIndia in 2014.<ref>{{Cite news|last=Mukul|first=Jyoti|date=2014-09-06|title=Rajiv Rattan takes control of Indiabulls Power|work=Business Standard India|url=https://www.business-standard.com/article/companies/rajiv-rattan-takes-control-of-indiabulls-power-114090600798_1.html|access-date=2021-12-10|archive-date=25 November 2021|archive-url=https://web.archive.org/web/20211125145721/https://www.business-standard.com/article/companies/rajiv-rattan-takes-control-of-indiabulls-power-114090600798_1.html|url-status=live}}</ref> The company is listed on National Stock Exchange and [[Bombay Stock Exchange]].<ref>{{Cite web|title=RattanIndia Power Ltd. Share Price Today, Stock Price, Live BSE/NSE Prices and News for RattanIndia Power Ltd. {{!}} Bloomberg-Quint|url=https://www.bloombergquint.com/stock/972964/rattanindia-power-ltd|access-date=2021-12-10|website=www.bloombergquint.com|archive-date=19 December 2021|archive-url=https://web.archive.org/web/20211219120328/https://www.bloombergquint.com/stock/972964/rattanindia-power-ltd|url-status=live}}</ref> [[Vivek Kulkarni|Brickwork Ratings]] provided the rating for the Bank Loan Facilities of aggregating to Rs.7617.99 Crs in October 2020.<ref>{{Cite web|title=Brickwork Ratings for Rattan India|url=https://www.brickworkratings.com/Admin/PressRelease/RattanIndia-Power-5Oct2020(1).pdf|access-date=19 December 2021|archive-date=19 December 2021|archive-url=https://web.archive.org/web/20211219120325/https://www.brickworkratings.com/Admin/PressRelease/RattanIndia-Power-5Oct2020(1).pdf|url-status=live}}</ref>

RattanIndia has two thermal power plants: the first is the Nashik power plant that was reported stranded in 2020 due to no long-term purchase agreements and conflicts on land acquisition.<ref>{{Cite web|last=www.ETEnergyworld.com|title=De-stressing power and banking sectors advances with international divestment of RattanIndia's Amravati coal plant - Opinion by Vibhuti Garg {{!}} ET EnergyWorld|url=https://energy.economictimes.indiatimes.com/energy-speak/de-stressing-power-and-banking-sectors-advances-with-international-divestment-of-rattanindia-s-amravati-coal-plant/3968|access-date=2021-12-10|website=ETEnergyworld.com|language=en|archive-date=19 December 2021|archive-url=https://web.archive.org/web/20211219120324/https://energy.economictimes.indiatimes.com/energy-speak/de-stressing-power-and-banking-sectors-advances-with-international-divestment-of-rattanindia-s-amravati-coal-plant/3968|url-status=live}}</ref> The other power plant is in Amravati that was commissioned in 2015.<ref>{{Cite news|title=RattanIndia Power commissions 270 MW unit 4 at Amravati|work=The Economic Times|url=https://economictimes.indiatimes.com/industry/energy/power/rattanindia-power-commissions-270-mw-unit-4-at-amravati/articleshow/46505983.cms?from=mdr|access-date=2021-12-10|archive-date=19 December 2021|archive-url=https://web.archive.org/web/20211219121829/https://economictimes.indiatimes.com/industry/energy/power/rattanindia-power-commissions-270-mw-unit-4-at-amravati/articleshow/46505983.cms?from=mdr|url-status=live}}</ref> Amravati power plant was in debt and [[Goldman Sachs]] Varde partners took over the Rs 4050 crores against 15 percent equity in 2019.<ref>{{Cite journal|title=Table 34: Share of Debt Relief in DAC Members' Total Net ODA in 2004|url=http://dx.doi.org/10.1787/036556625566|access-date=2021-12-10|doi=10.1787/036556625566|url-access=subscription}}</ref>

The company was also involved in solar energy but that component was sold to GIP for Rs 1067 [[crore]] in September 2020 and the company exited the solar business.<ref>{{Cite news|last=Jai|first=Shreya|date=2020-09-02|title=RattanIndia sells entire solar portfolio of 306 Mw to GIP for Rs 1,670 cr|work=Business Standard India|url=https://www.business-standard.com/article/companies/rattanindia-sells-entire-solar-portfolio-of-306-mw-to-gip-for-rs-1-670-cr-120090200924_1.html|access-date=2021-12-10}}</ref>

=== Acquisition of Revolt Motors ===

In October 2022, RattanIndia Enterprises Ltd announced that they would be acquiring the electric motorcycle company Revolt Motors for an undisclosed figure.<ref>{{Cite news|last=Paramasivam|first=Praveen|date=2022-10-07|title=RattanIndia to buy 100% stake in electric motorcycle maker Revolt Motors|work=Business Standard India|url=https://www.business-standard.com/article/companies/rattanindia-to-buy-100-stake-in-electric-motorcycle-maker-revolt-motors-122100700343_1.html|access-date=2022-10-07|archive-date=31 December 2022|archive-url=https://web.archive.org/web/20221231031838/https://www.business-standard.com/article/companies/rattanindia-to-buy-100-stake-in-electric-motorcycle-maker-revolt-motors-122100700343_1.html|url-status=live}}</ref> The takeover was completed in January 2023.<ref>{{Cite news|last=|first=|date=2023-01-14|title=RattanIndia Enterprises acquires EV maker Revolt Motors|work=The Economic Times|url=https://economictimes.indiatimes.com/industry/renewables/rattanindia-enterprises-acquires-ev-maker-revolt-motors/articleshow/96991655.cms}}</ref>

== Allegations of irregularity ==
There have been allegations of irregularities on RattanIndia by [[Lone Star Funds]] with which the company had formed a finance company.<ref>{{Cite news|last1=Vyas|first1=Maulik|last2=Das|first2=Saikat|title=Lone Star subsidiary approaches NCLT alleging oppression and mismanagement in RattanIndia Finance|work=The Economic Times|url=https://economictimes.indiatimes.com/industry/banking/finance/lone-star-unit-moves-nclt-against-rattanindia-fin-alleges-irregularities/articleshow/82689663.cms|access-date=2021-11-02|archive-date=7 January 2022|archive-url=https://web.archive.org/web/20220107070558/https://economictimes.indiatimes.com/industry/banking/finance/lone-star-unit-moves-nclt-against-rattanindia-fin-alleges-irregularities/articleshow/82689663.cms|url-status=live}}</ref>

==References==
{{Reflist}}

[[Category:1999 establishments in Haryana]]
[[Category:Companies based in New Delhi]]
[[Category:Companies listed on the National Stock Exchange of India]]
[[Category:Conglomerate companies established in 1999]]
[[Category:Companies listed on the Bombay Stock Exchange]]
[[Category:Electric power companies of India]]
[[Category:Energy companies established in 1999]]

RattanIndia - Revision history

LolitaErurf: put up first details initial version