Ravindra Energy Ltd

Ravindra Energy Limited, in compliance with Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018, has received a certificate from KFin Technologies Limited, its Registrar and Share Transfer Agents, confirming the acceptance and listing of dematerialized securities with the National Securities Depository Limited and Central Depository Services (India) Limited for the quarter ended September 30, 2026, and the subsequent mutilation and cancellation of physical security certificates.

Promoter Mr. Narendra Madhusudan Murkumbi and Khandepar Investments Private Limited have pledged shares in Ravindra Energy Limited (REL) to TATA Capital Limited as security for loans totaling approximately Rs. 49.61 crore, Rs. 21.39 crore, Rs. 15 crore, and Rs. 100 crore, respectively. The loans are intended for infusion into project Special Purpose Vehicles (SPVs) and general corporate purposes, with repayment scheduled over 55 quarterly installments. Additionally, KIPL pledged shares to secure a loan for its wholly-owned subsidiary, REL Rural Warehousing Limited (RRWL), to repay existing debt using non-convertible debentures. The share pledges, which represent between 0.05% and 1.32% of REL’s total shares, carry market values ranging from Rs. 1.48 crore to Rs. 45.16 crore, and are part of REL’s ongoing expansion through solar projects and related ventures.

Ravindra Energy Limited and its subsidiaries have secured loans totaling approximately 496.10 crore rupees, with shares pledged as collateral to TATA Capital Limited and JM Financial Products Limited. Promoters, including Mr. Narendra Madhusudan Murkumbi, and Khandepar Investments Private Limited (KIPL) have pledged shares valued at a combined 11.21 crore rupees to secure the loans. Loan proceeds are primarily intended for infusion into project special purpose vehicles awaiting financial closure, with one loan of 100 crore rupees designated for general corporate purposes. Subsidiary REL Rural Warehousing Limited also received a loan. Asset cover to loan amount ratios vary, ranging from 0.10:1 to 1.46:1, indicating varying degrees of lender security.

Ravindra Energy Limited announced that its members approved amendments to the Memorandum of Association (MoA) and Articles of Association (AoA) at the 46th Annual General Meeting held on September 28, 2026. The amendments to the AoA were necessitated by a Rupee Term Loan (RTL) facility of up to Rs 100 crore availed from Tata Capital Limited (TCL), requiring the appointment of a nominee director and inclusion of definitions related to the loan facility. Additionally, Clause 5 of the MoA was amended to reflect the shifting of the company's registered office from Belgaum, Karnataka, to Mumbai, Maharashtra.

Ravindra Energy Limited announced that shareholders at the company's 46th Annual General Meeting on September 28, 2026, approved the re-appointment of Shantanu Lath as Whole-Time Director and Chief Executive Officer for a further term of 3 years with effect from August 11, 2026.

Ravindra Energy Limited informed the BSE and NSE that it will close its trading window for designated persons, connected persons, and their immediate relatives from October 1, 2026, until 48 hours after the declaration of financial results for the quarter and half year ended September 30, 2026.

Ravindra Energy Limited announced that its board of directors approved a scheme of amalgamation with Energy In Motion Limited, under Sections 230 to 232 of the Companies Act, 2013. As part of the deal, Ravindra Energy Limited will issue 209 shares for every 100 shares held in Energy In Motion Limited. The amalgamation is expected to combine Ravindra Energy’s renewable energy capabilities with Energy In Motion’s electric vehicle charging and battery swapping network, creating a platform for integrated solutions for electric heavy commercial transportation. Ravindra Energy Limited holds 49.54% of the share capital of Energy In Motion Limited.

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.