RattanIndia Enterprises is a publicly listed holding company that builds and scales new-age, technology-led businesses in India, operating as a family of strategic growth platforms across sunrise sectors. Originally incorporated for power and infrastructure, the company pivoted fundamentally in FY20 to pursue businesses of the future - light on debt, low on capital expenditure, rapidly scalable, and direct-to-consumer - and renamed itself effective March 2021. The recurring approach is to acquire or launch platforms in high-growth spaces, overhaul their operations, and scale them using a shared playbook of technology, working capital, and strategic partnerships. # Business segments Two engines at different stages - an e-commerce platform that already moves goods to every corner of India, and an electric-vehicle manufacturer that dominates its category while building an international footprint - each scaled with the cash flows and capabilities of the group behind it. ## 1. E-commerce: the platform that sells everything, everywhere **Cocoblu Retail is a premium seller on Amazon.in and Flipkart that manages a catalogue of roughly 8.4 million products, serving 20,000-plus pin codes - essentially the entire country - through a working-capital-intensive model that has been profitable from day one.** - **Sells the long tail, not just the hits** - Cocoblu specialises in categories where the cumulative value of rarely-sold products exceeds that of the few bestsellers, spanning apparel, eyewear, shoes, handbags, office products, wireless accessories, musical instruments, and books. This means it captures demand that single-brand sellers cannot economically serve alone. - **Deploys roughly ₹800 crores to keep shelves stocked** - the business is built on working capital, not fixed assets, ensuring stock availability across 520 Amazon fulfilment centres and Quick Commerce dark stores so that orders can be fulfilled at speed. That is how it processed about 3 crore orders in a single quarter, or roughly four orders every second. - **AI runs the operations** - advanced automation handles pricing intelligence, demand forecasting, and support functions, while a Big Data and machine-learning stack manages the complexity of millions of SKUs and 1,500-plus active vendors. The technology is what lets a team of 240 people run a business of this scale. - **Now exporting the model to the Middle East** - Cocoblu launched on the Noon platform in the UAE, Saudi Arabia, and Egypt, and established a Dubai subsidiary, with a roadmap to cover the entire GCC by 2026, leveraging the India-UAE free trade framework and a regional e-commerce market expected to exceed $50 billion this decade. ## 2. Electric motorcycles: the company that owns India's EV two-wheeler market **Revolt Motors commands roughly 70% of India's electric motorcycle market, having overhauled its supply chain to achieve 100% localisation and doubled factory output after being fully acquired - and it is now expanding into Sri Lanka and Nepal.** - **Running costs that beat petrol hands down** - Revolt claims a total cost of ownership up to 70% lower than petrol motorcycles, with monthly electricity costs of about ₹250 versus roughly ₹4,500 for fuel, and a running cost as low as ₹9 per 100 km. Riders have already crossed 72 crore electric kilometres cumulatively. - **A factory that was rebuilt from the inside** - after REL took full ownership in January 2023, the entire supply chain was overhauled, output was doubled, and components were localised to 100% at the Manesar plant, which has an installed capacity of 1.8 lakh units annually. That is what turned a startup into a volume manufacturer. - **Dealerships in 202 cities and counting** - the distribution network spans 221 dealerships across 202 cities in 24 states and union territories, plus 12 dealerships in Sri Lanka and 15 in Nepal through a partnership with MV Dugar Group. Revolt also opened its first company-owned store in Delhi and debuted on a major e-commerce platform. # Group structure and partners **REL is the flagship holding company of the RattanIndia Group, with a 50% independent board, an eminent advisory panel, and a web of wholly-owned subsidiaries that each run a distinct new-age business - plus a strategic 20% stake in a thermal power plant that provides a steady associate income stream.** - The Board includes Chairman Rajiv Rattan (who co-founded Indiabulls in 1999 and assumed full ownership of the power business after the 2014 founders' separation), Co-Chairperson Anjali Nashier, and three independent directors, with statutory audit by Walker Chandiok & Co LLP. - An Advisory Board of eminent professionals - including the Chairman of ICRA, the co-founder of Policybazaar, and the co-founder of Avendus Capital - shapes investment strategy, evaluates opportunities, and monitors performance across the group. - Step-down subsidiaries include Throttle Aerospace Systems (60% owned by NeoSky, a DGCA-approved drone manufacturer), Revolt Coco Limited (operating Revolt dealerships), and Neorise Global Trading in mainland Dubai for Middle East e-commerce. - REL holds a 20.003% stake in RattanIndia Power Limited, an associate that operates a 1,350 MW thermal plant in Amravati with a long-term power purchase agreement for 1,200 MW with Maharashtra's state distributor and a dedicated coal supply from South Eastern Coalfields.