Back
Corporate News
Ravindra Energy reports fund utilization deviation, shifting Rs 6 crore between businesses
15-Aug-2026, 12:14
Ravindra Energy Limited informed the BSE Limited and National Stock Exchange of India that it has submitted a statement of deviation or variation in the utilization of funds raised through a preferential issue of equity shares. The company raised Rs 180 crore on October 16, 2024, and India Ratings and Research Private Limited is the monitoring agency. A deviation of up to 10% in the allocation of funds was previously approved by shareholders, resulting in an additional Rs 6 crore allocated to the renewable energy business and a reduction of Rs 6 crore from the electrical vehicle business.
Ravindra Energy Limited informed the BSE Limited and National Stock Exchange of India that it has submitted a statement of deviation or variation in the utilization of funds raised through a preferential issue of equity shares. The company raised Rs 180 crore on October 16, 2024, and India Ratings and Research Private Limited is the monitoring agency. A deviation of up to 10% in the allocation of funds was previously approved by shareholders, resulting in an additional Rs 6 crore allocated to the renewable energy business and a reduction of Rs 6 crore from the electrical vehicle business.