Rattan India Enterprises which used to be Indiabulls Power and Infrastructure Ltd. seems to have morphed into a different entity in the last year or so.
They have entered a number of sunrise industries simultaneously by setting up multiple subsidiaries
Revolt - Electric Bikes - They acquired 43% for 150 cr from Rahul Sharma of Micromax
Bankse - Wholly owned subsidiary which does Neobanking for which they have received an NBFC license
Coco Blu Retail - Wholly owned subsidiary that is an e-commerce seller on Amazon
Matternet - Investor in a US firm called Matternet which does drone Logistics
NeoSky - Wholly owned subsidiary that is in the drones business
The firm underwent one of the largest debt resolution plans outside the NCLT framework when Goldman Sachs acquired its debt. This is from its earlier power generation business under India Bulls
The stock has run up significantly last year after which it has subsided a bit. The limited market commentary that is available seems mixed. Possibly because of its history.
At at market cap of 7K crs, I don’t know if there’s value to be unearthed here.
Would love to hear thoughts about this one.