Ravindra Energy associate company Energy In Motion (EIM) and Paradeep Parivahan Limited (PPL) have commenced the deployment of approximately 45 EIM Ashwa 4x2, 55-tonne electric heavy-duty tractor trailers for UltraTech Cement Limited. The fleet will be deployed for the transportation of clinker from UltraTech's integrated manufacturing unit in Rajasthan to its grinding units in the Delhi-NCR region. This deployment represents one of the largest electric heavy-duty truck deployments in the cement sector in Northern India and marks a significant milestone in India's transition towards zero-emission long-haul freight transportation.

Operational Details and Environmental Impact

The operational corridor spans three states—Rajasthan, Haryana, and Uttar Pradesh—with an average lead distance of approximately 250 kilometers. The project is expected to deliver significant environmental benefits, including a projected reduction of over 8,900 tons of CO2 emissions annually. This initiative displaces an equivalent of about 2.9 million liters of diesel per year, contributing to cleaner logistics operations and national carbon reduction objectives.

Strategic Collaboration and Model

The deployment highlights the impact of collaboration between industry leaders, logistics service providers, and technology innovators. EIM operates under the Maitryi model, offering battery packs and charging or swapping services as a package. This allows logistics service partners to focus on fleet management and customer service while reducing upfront costs by about 40% per vehicle. The model includes building common heavy-duty charging and battery-swapping infrastructure on key routes.

Leadership Commentary

Narendra Murkumbi, co-founder and Managing Director of Energy In Motion Ltd., stated that the NCR region is a focus area due to the national priority of reducing pollution around the capital city. He noted that the business model democratizes heavy electric transport by reducing upfront costs and building necessary infrastructure. Dr. Khalid Khan, CMD & CEO of Paradeep Parivahan Limited, emphasized that this project proves large-scale freight decarbonization is happening today and will serve as a benchmark for the industry.

Project Metrics

Ravindra Energy Limited has revised the total number of Rights Equity Shares and the issue size for its ongoing rights issue. The company issued a corrigendum to the Letter of Offer dated June 3, 2026, reflecting an increase in the issue size to ₹2,005.35 million. The issue opens on Tuesday, June 16, 2026, and closes on Wednesday, June 24, 2026, with the record date fixed as June 8, 2026.

The total number of Rights Equity Shares proposed to be issued has been revised upward to 19,854,940. The rights issue price remains fixed at ₹101 per Rights Equity Share, which includes a premium of ₹91 per share over the face value of ₹10. The entitlement ratio for eligible equity shareholders continues to be one Rights Equity Share for every nine fully paid-up equity shares held.

The net proceeds from the issue are estimated at ₹1,989.35 million after deducting issue-related expenses of ₹16.00 million. The Board of Directors, in its meeting held on May 16, 2026, had approved the issue of Rights Equity Shares aggregating up to ₹2,050 million, with the final figures now adjusted based on the basis of allotment.

Issue Schedule

Revised Issue Parameters

The company has received in-principle approval from the BSE and NSE for listing the Rights Equity Shares. The Rights Entitlements will be credited to the demat accounts of eligible shareholders and admitted for trading on the stock exchanges under ISIN INE206N20018. The newspaper advertisements regarding the issue were published on June 12, 2026.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE206N01018/9273e94d-51e3-4a69-8ae6-254c71c47e55.pdf