Ravindra Energy Limited has provided a corporate guarantee of ₹135.00 crores to its associate entity Energy In Motion Limited (EIM) for credit facilities sanctioned by YES Bank Limited. This development follows the company's earlier postal ballot notice seeking shareholder approval for increased financial assistance to EIM.

Corporate Guarantee Details

The company disclosed that it has provided corporate guarantee/undertaking to EIM for financial assistance facility availed from YES Bank Limited. The guarantee is within the limits previously approved by shareholders at the Extraordinary General Meeting held on June 20, 2025.

Credit Facility Structure

YES Bank Limited has sanctioned comprehensive financial assistance to EIM, comprising various fund-based and non-fund-based credit facilities.

Previous Shareholder Approvals

Earlier, REL had sought shareholder approval through postal ballot to increase financial assistance limits to EIM from ₹300 crores to ₹1,300 crores. The proposed assistance structure included:

Related Party Transaction Context

The transaction involves related party considerations as Mr. Narendra Murkumbi, one of the promoters of REL, serves as a common director in both REL and EIM. However, the company has confirmed that the corporate guarantee is extended on an arm's length basis.

Business Rationale and Impact

The corporate guarantee is designed to help EIM obtain credit facilities at competitive terms from YES Bank Limited and expand its business operations in the electric vehicle sector. As a non-fund based contingent liability, the guarantee has no immediate financial impact on REL's balance sheet.

With EIM being positioned as REL's strategic associate in the electric vehicle business and having a substantial paid-up capital of ₹100 crores, this financial support aligns with REL's broader strategy to strengthen its presence in the evolving energy and mobility sectors.

Ravindra Energy Limited (REL) has announced a Board of Directors meeting scheduled for December 5, 2025. The meeting agenda focuses on significant corporate governance changes, including committee reconstitution and a new director appointment.

Key Points of the Upcoming Board Meeting

Committee Reconstitution

Following the resignation of Mr. Robert Taylor from his position as an Independent Director, the board will discuss and approve the reconstitution of various committees.

New Director Appointment

The board will consider approving a postal ballot notice to seek shareholder approval for the appointment of Mr. Apurva Chandra (DIN: 02531655) as an Independent Director.

Governance Changes in Detail

The company has not provided details on which specific committees will be reconstituted or the reasons behind Mr. Taylor's resignation. The appointment of Mr. Apurva Chandra as an Independent Director, subject to shareholder approval, signals the company's commitment to maintaining independent oversight on its board.

These changes in the board composition and committee structures are significant corporate governance matters that may impact the company's decision-making processes and overall management approach. Shareholders and investors will likely be watching how these changes unfold and their potential impact on the company's future direction.

Ravindra Energy Limited has made this announcement in compliance with Regulation 29 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, demonstrating its adherence to regulatory transparency requirements.

Stakeholders should look out for the results of the postal ballot and any subsequent announcements regarding the finalized committee structures and roles of the new Independent Director.