Energy In Motion Limited (EIM), an associate of Ravindra Energy Limited , has executed a Letter of Agreement (LOA) with Contemporary Amperex Technology Co., Limited (CATL) to establish a supply partnership for Lithium Iron Phosphate (LFP) cells and battery pack kits in India. The partnership secures the supply of 0.5 GWh of LFP cells, featuring the upgraded CB7T0 cell model and L324D06 battery pack platform, which offer higher cycle life and volumetric density compared to previous models. These battery systems will be configured into 400.6 kWh units for integration into EIM’s E-Tractor 4x2 Ashwa series, designed for heavy commercial vehicles.

Strategic Partnership and Technology

Under the agreement, CATL will supply its latest generation of battery systems, making EIM the launch customer for this technology in India. The battery packs will be fitted into swappable battery boxes customized for India’s high ambient temperature operating conditions. The upgraded CB7T0 cell model and L324D06 platform represent a significant improvement over the earlier CB230 cell model used by EIM, enhancing the performance and efficiency of the heavy commercial vehicle ecosystem.

Infrastructure and Expansion Plans

EIM is developing an electric heavy commercial vehicle ecosystem that includes megawatt-scale charging and swapping stations across the country. The company launched its first electric heavy vehicle, the Ashwa 55-ton e-tractor, on August 1, 2025. Currently, EIM has commissioned six heavy-duty swap stations in the Delhi-NCR region and JNPA port area, with a combined daily swap capacity of 840 battery swaps per day. The company is targeting the establishment of 40 operational heavy commercial vehicle swap cum charging stations by the end of March 2027.

Market Context and Leadership Commentary

CATL, the world’s largest battery manufacturer, held a 39.2% share of the global power battery market in 2025 and has a market capitalisation of approximately 280 billion USD. Mr. Narendra Murkumbi, Managing Director of EIM, highlighted the significance of the partnership, stating that securing world-class battery supply from CATL assures the quality, reliability, and scale required for network expansion and opens doors to long-haul commercial applications.

Ravindra Energy Limited has finalized the allotment of rights equity shares, with the allotted shares set to commence trading on BSE and NSE on July 1, 2026. The rights issue, which opened for subscription on June 16, 2026, and closed on June 24, 2026, was oversubscribed, receiving valid applications for 27,872,121 shares against 19,854,940 shares on offer. The issue aimed to raise funds aggregating up to ₹2,005.35 million through the issuance of fully paid-up equity shares at a price of ₹101 per share, including a premium of ₹91 per share.

The Board of Directors approved the allotment of 19,854,940 Rights Equity Shares to successful applicants on June 25, 2026. A total of 2,483 valid applications were received through the Application Supported by Blocked Amount (ASBA) process, while 171 applications were rejected due to technical reasons. The subscription level reached 140.38% of the issue size. Eligible Equity Shareholders received 14,578,183 shares, while Renouncees were allotted 5,276,757 shares.

Key Details of the Rights Issue

The credit of Rights Equity Shares in dematerialized form to the respective demat accounts of allottees was completed on June 29, 2026. The listing application was filed with the exchanges on June 26, 2026, and approvals were received on June 29, 2026. The shares will be traded under the existing ISIN INE206N01018. KFintech Limited acted as the Registrar to the Issue.

Promoter and Insider Disclosures

In compliance with Regulation 7(2) and 7(3) of the SEBI (Prohibition of Insider Trading) Regulations, 2015, the company disclosed changes in shareholdings by promoters and designated persons. Dr. Vidya Murkumbi, Chairperson and Whole-Time Director, acquired 44,777 equity shares for ₹45,22,477. Khandepar Investments Private Limited, a promoter, acquired 28,27,016 shares for ₹28,55,28,616. Other promoter group members, including Apoorva Narendra Murkumbi and Aalok Wadhwa, also subscribed to their rights entitlements. Shailesh Nandkishor Rojekar, a connected person, acquired 7,29,333 shares for ₹7,36,62,633. Shantanu Lath, Whole-Time Director & Chief Executive Officer, acquired 13,500 shares for ₹13,63,500. Shree Renuka Sugars Development Foundation, another connected person, acquired 4,85,000 shares for ₹4,89,85,000.