RattanIndia Enterprises has acquired a substantial stake in EV two-wheeler manufacturer Revolt Intellicorp for Rs 150 crore to foray into the fast-expanding electric vehicle business.
As part of the deal, RattanIndia Enterprises has infused Rs 150 crore and will have a 50 percent board presence in Revolt Intellicorp with Rajiv Rattan heading the company’s Board as its Chairman.
Revolt Intellicorp will be deploying fresh capital raised from the stake sale to expand its distributor and service network across 35 cities.
Moreover, the company will be leveraging AI to upscale and provide 100 percent in-house developed contactless experience for its customers. Revolt India has expanded its footprint to six cities across the country. It is looking forward to expanding the reach to a larger base of customers across the top 35 cities.
