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.

Ravindra Energy Limited has invested approximately Rs 150 crore in its associate entity, Energy In Motion Limited (EIM), to support the latter's clean mobility solutions. The investment was made through a rights issue, where Ravindra Energy subscribed to 45,67,463 equity shares at an issue price of Rs 328.41 per share. This transaction increases the company's stake in EIM from 49.50% to 49.54%, ensuring it remains an associate entity.

The rights issue comprises equity shares with a face value of Rs 10 each, issued at a premium of Rs 318.41 per share. The consideration was paid in cash through banking channels. The investment aligns with the 'Objects of the Issue' outlined in the Letter of Offer dated June 3, 2026, and a subsequent corrigendum on June 12, 2026. The primary objective is to repay an inter-corporate deposit (ICD) that EIM borrowed from Golden Green Innovations Private Limited, one of its promoters.

EIM is a provider of integrated electric mobility solutions for long-haul freight transportation, focusing on heavy-duty electric trucks supported by battery-swapping and charging infrastructure. The entity was incorporated on March 19, 2024, and reported a turnover of Rs 5.22 million in FY2024-25. For FY-2025-26, the turnover surged to Rs 1,806.88 million.

The transaction is classified as a related party transaction under the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015. While Mr. Narendra Murkumbi, promoter and Non-Executive Director of Ravindra Energy, serves as the Managing Director of EIM, no other promoter or director has an interest in the transaction. The deal was conducted at arm's length following shareholder approval via postal ballot on January 5, 2026.

Investment Details