Board Approves Initiating Closure of Botswana Subsidiary RITES (Afrika)

Board approved initiating closure of RITES (Afrika) Proprietary Limited, a wholly-owned subsidiary in Botswana.

Fri 25 Sep 2026

Subsidiary Turnover Contribution

51,33,714.79 (0.02%)

Subsidiary Revenue Contribution

58,76,920.97 (0.02%)

Subsidiary Net Worth Contribution

3,58,84,646.02 (0.13%)

Closure Timeline

within six months after receipt of all requisite clearances/approvals

Reason for Closure

lack of relevant business opportunities in the country

What was announced

The Board of Directors approved the proposal to initiate the process for closure of RITES (Afrika) Proprietary Limited (RAPL), a wholly-owned subsidiary incorporated in Botswana. It is subject to completion of statutory, regulatory, legal, tax and other formalities and receipt of requisite approvals.

Size of the subsidiary

• Turnover contributed last financial year: 51,33,714.79, which is 0.02%
• Revenue contributed last financial year: 58,76,920.97, which is 0.02%
• Net worth contributed last financial year: 3,58,84,646.02, which is 0.13%

Timeline

Closure is estimated within six months after receipt of all requisite clearances/approvals.

Why

The stated reasons are lack of relevant business opportunities in the country and establishment of a RITES representative office in South Africa for effective presence in the region.

How to read it

The subsidiary's contribution to the parent's turnover, revenue and net worth is small in percentage terms. The step is presented as a restructuring of the company's Africa presence rather than an exit from the region, with the representative office in South Africa continuing to serve it. The Board meeting commenced at 09.15 A.M. and concluded at 10.10 A.M.

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