Ravindra Energy Ltd

Ravindra Energy Limited announced the allotment of 12,500 equity shares at an exercise price of Rs 100 per share under its ‘Ravindra Energy Employee Stock Option Plan, 2022’, according to a filing with the BSE Limited and National Stock Exchange of India Limited on August 26, 2026. The allotment increases the company's paid-up equity share capital to Rs 198,56,19,030 divided into 19,85,61,903 equity shares of Rs 10 each.

CARE Ratings Ltd.’s Monitoring Agency report reveals that Ravindra Energy Limited (REL) has fully utilized Rs 150 crore of the Rs 200.53 crore raised through a recent rights issue for an investment in its associate company, Energy In Motion (EIM), specifically to repay an Inter-Corporate Deposit to Golden Green Innovations Private Limited. As of June 30, 2026, Rs 48.93 crore earmarked for general corporate purposes and Rs 1.60 crore for issue-related expenses remain unutilized, totaling Rs 50.53 crore held in a State Bank of India monitoring account. While the investment in EIM was implemented without delay, the utilization of funds for general corporate purposes and issue-related expenses is ongoing. The total funds raised were initially reported as Rs 200.31 crore but were adjusted to Rs 200.53 crore due to a change in the number of shares issued.

Ravindra Energy Limited informed the BSE Limited and National Stock Exchange of India that it has submitted a statement of deviation or variation in the utilization of funds raised through a preferential issue of equity shares. The company raised Rs 180 crore on October 16, 2024, and India Ratings and Research Private Limited is the monitoring agency. A deviation of up to 10% in the allocation of funds was previously approved by shareholders, resulting in an additional Rs 6 crore allocated to the renewable energy business and a reduction of Rs 6 crore from the electrical vehicle business.

Ravindra Energy Limited will hold a board meeting on August 14, 2026, to approve the restated consolidated financial statements for the financial year ended March 31, 2026, and the standalone and consolidated financial results for the quarter ended June 30, 2026. Trading window for designated persons and their immediate relatives has been closed from July 1, 2026, and will remain closed until 48 hours after the financial results are declared to the stock exchanges.

Ravindra Energy Limited will hold a board meeting on August 14, 2026, to approve the restated consolidated financial statements for the financial year ended March 31, 2026, and the standalone and consolidated financial results for the quarter ended June 30, 2026. Trading window for the company’s securities has been closed for designated persons and their immediate relatives from July 1, 2026, and will remain closed until 48 hours after the financial results are announced.

Ravindra Energy Limited has entered into a loan agreement with Tata Capital Limited for a term loan facility of Rs 100 crore, the company announced on July 30, 2026. The facility will be used to fund investments in solar project special purpose vehicles, excluding project finance loans, and includes provisions allowing Tata Capital Limited to appoint a nominee to Ravindra Energy’s board in the event of a default.

Ravindra Energy announced that its associate company, Energy In Motion (EIM) has executed an Agreement with Hindustan Petroleum Corporation (HPCL) to establish & operate fast charging cum battery swapping infrastructure for heavy commercial vehicles at select HPCL retail outlets across India. HPCL operates a network of over 25,000 retail outlets nationwide, including on all major highways and expressways. Under the agreement, EIM will deploy charging and battery swapping infrastructure at HPCL retail outlets in a phased rollout. The company plans to establish swap-and-charge hubs on key freight corridors ' including Mumbai'Pune, Delhi'Jaipur and Chennai'Bangalore ' over the next 18 to 24 months and expanding progressively thereafter. The stations will serve electric commercial vehicles and will be integrated with EIM's technology platform for real-time availability, digital payments and remote monitoring.

Energy In Motion (EIM), an associate company of Ravindra Energy, has executed a Letter of Agreement (LOA) with Contemporary Amperex Technology Co., (CATL) to establish a supply partnership for the supply of its Lithium Iron Phosphate (LFP) cells and battery pack kits to EIM in India. Under the agreement, CATL will supply 0.5 GWh of its LFP cells consisting of the upgraded CB7T0 cell Model & L324D06 battery pack platform. This latest cell and pack model for heavy commercial vehicles has significantly higher cycle life and volumetric density compared to the previous cell model CB230 used by EIM. The packs will be configured into 400.6 kWh systems for integration into EIM's E-Tractor 4x2 Ashwa series. EIM will be the launch customer for this new generation of CATL battery systems in India. These will be fitted into swappable battery boxes by EIM which are customized for India's high ambient temperature operating conditions. EIM is building an electric heavy commercial vehicle ecosystem including megawatt-scale charging/swapping stations across the country. It's first electric heavy vehicle namely the Ashwa 55-ton e-tractor was launched on August 1st, 2025. EIM has already commissioned six heavy-duty swap stations in Delhi-NCR region & JNPA port area with a daily swap capacity of 840 battery swaps/day. EIM is targeting 40 operational heavy commercial vehicle swap cum charging stations by the end of March, 2027. CATL, the world's largest battery manufacturer, held a 39.2% share of global power battery market in 2025. The company has a market capitalisation of approximately 280 billion USD.

Ravindra Energy has invested Rs 150 crore in its associate company, Energy In Motion (EIM) by way of subscription to 45,67,463 equity shares issued and allotted by EIM on rights issue basis , at an issue price of Rs. 328.41 per equity share.

Ravindra Energy will hold a meeting of the Board of Directors of the Company on 23 May 2026.