RITES Limited will sell its entire 13% equity stake in Elicius Energy Private Limited for ₹60,544.77, the company said in a BSE filing dated August 19, 2026. The RITES stake sale covers 1,573 equity shares held in the associate company.

The competent authority decided on August 19 to transfer the shares to Dr. Raghunathan Rengasamy, promoter and director of Elicius Energy. The transaction values each equity share at ₹38.49, based on a share valuation certificate issued by SPGM & Associates, Chartered Accountants.

RITES to relinquish associate-company interest

RITES currently owns 1,573 shares representing 13% of Elicius Energy’s equity share capital. Following completion of the transfer, Elicius Energy will cease to be an associate of RITES.

The railway transport infrastructure consultancy said its board had approved the proposal to sell or transfer the entire holding at its 303rd meeting on June 25, 2026. A share transfer deed will be executed between the parties to give effect to the transaction.

  • Shares proposed to be transferred: 1,573
  • Stake represented by the shares: 13%
  • Fair value per share: ₹38.49
  • Total agreed consideration: ₹60,544.77
  • Expected completion: on or before September 30, 2026

Transaction terms and regulatory disclosure

According to the filing, Elicius Energy contributed nil turnover, revenue or income and nil net worth to RITES during the last financial year. The company also clarified that the proposed buyer does not belong to the promoter, promoter group or group companies of RITES, although he is the promoter and director of Elicius Energy.

The transaction is not classified as a related-party transaction. The provisions concerning disposal outside a scheme of arrangement and disclosures for a slump sale were marked as not applicable.

RITES submitted the disclosure under Regulation 30 read with Schedule III of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015, and the SEBI Master Circular dated January 30, 2026.

Source: BSE corporate announcement.