Ravindra Energy has officially announced that its Finance Committee has decided to put the proposed Qualified Institutional Placement (QIP) on hold, citing continued market volatility and prevailing economic conditions. The decision was made during the Finance Committee meeting held on March 25, 2026, prioritizing the best interests of the company and its shareholders.

Finance Committee's Strategic Decision

The Finance Committee reviewed current market conditions and the prevailing economic environment before making this decision. The committee determined that the continued market volatility makes it prudent to postpone the fund-raising initiative temporarily. This decision reflects a cautious approach towards capital raising in uncertain market conditions.

QIP Details and Timeline

The proposed QIP was initially planned to raise funds through the issuance of fully paid-up equity shares, non-convertible debt instruments along with warrants, and convertible securities other than warrants through Qualified Institutional Buyers (QIBs).

Market Monitoring Strategy

The company has committed to continuously monitoring market conditions and will re-evaluate the timing for the proposed fund-raising at a more opportune time. This approach allows Ravindra Energy to potentially secure better terms and pricing when market conditions stabilize and become more favorable for equity offerings.

Regulatory Compliance

The decision has been communicated to both BSE Limited and National Stock Exchange of India Limited in compliance with regulatory requirements. The information is also available on the company's official website at www.ravindraenergy.com for stakeholder reference and transparency.

Ravindra Energy Limited's associate company Energy In Motion Limited (EIM) has announced a strategic partnership with Transvolt Mobility Private Limited for the deployment of 66 electric heavy vehicles. This collaboration marks a significant step toward sustainable port operations and clean mobility solutions in India's logistics sector.

Partnership Details and Vehicle Specifications

The partnership involves the supply of 66 EIM-Foton 55-ton e-tractor vehicles branded as "Ashwa." These battery-swappable heavy electric vehicles are designed for hauling a wide variety of trailers across different applications. The comprehensive service package includes not only vehicle supply but also swappable battery technology and charging infrastructure as a combined service offering.

Deployment Strategy and Environmental Impact

Transvolt will deploy these electric vehicles at two major Indian ports: Kandla Port in Gujarat and Jawaharlal Nehru Port at Nava Sheva Mumbai. The vehicles will be utilized for intra-port movement of containerized goods, marking Transvolt's strategic entry into port operations. This deployment represents a significant environmental initiative, with projected annual CO2 emission reductions of approximately 3300 tons.

The initiative aligns with the broader objective of achieving 100% zero emission transport being pursued by various port terminals across India. This transition from traditionally diesel-dependent operations to electric mobility demonstrates the industry's commitment to sustainable logistics infrastructure.

Leadership Perspectives

Mr. Narendra Murkumbi, Vice Chairman of Ravindra Energy and Managing Director of EIM, emphasized the validation of EIM's comprehensive approach to heavy commercial vehicle electrification. The business model focuses on selling vehicles without battery packs while providing charging services with swappable batteries, addressing the entire EV ecosystem challenge.

Mr. Debasis Mohanty, CEO and Co-founder of Transvolt, highlighted how this initiative will accelerate the transition to cleaner and more efficient logistics infrastructure. He noted that this move positions Transvolt as an early adopter of green technology in the traditionally diesel-dependent port sector, aligning with sustainability principles of investors including IFC, World Bank, and FinnFund.

Company Background and Business Models

Energy In Motion Limited operates as an associate venture of Ravindra Energy Limited, with REL holding a 49.5% shareholding. EIM's innovative business model centers on selling bare electric tractors without battery packs to transporters while providing battery packs, charging and swapping infrastructure, and energy supply through long-term contracts. The company commenced commercial operations on August 1, 2025.

Transvolt Mobility Private Limited functions as an electric mobility platform leveraging global experience and technological developments in e-mobility. The company's integrated approach creates a connected ecosystem across products and services segments, offering robust e-mobility infrastructure capabilities across B2G, B2C, and B2B domains.