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Ravindra Energy Limited utilized Rs 150 crore for investment in associate company Energy In Motion
15-Aug-2026, 12:16
CARE Ratings Ltd.’s Monitoring Agency report reveals that Ravindra Energy Limited (REL) has fully utilized Rs 150 crore of the Rs 200.53 crore raised through a recent rights issue for an investment in its associate company, Energy In Motion (EIM), specifically to repay an Inter-Corporate Deposit to Golden Green Innovations Private Limited. As of June 30, 2026, Rs 48.93 crore earmarked for general corporate purposes and Rs 1.60 crore for issue-related expenses remain unutilized, totaling Rs 50.53 crore held in a State Bank of India monitoring account. While the investment in EIM was implemented without delay, the utilization of funds for general corporate purposes and issue-related expenses is ongoing. The total funds raised were initially reported as Rs 200.31 crore but were adjusted to Rs 200.53 crore due to a change in the number of shares issued.
CARE Ratings Ltd.’s Monitoring Agency report reveals that Ravindra Energy Limited (REL) has fully utilized Rs 150 crore of the Rs 200.53 crore raised through a recent rights issue for an investment in its associate company, Energy In Motion (EIM), specifically to repay an Inter-Corporate Deposit to Golden Green Innovations Private Limited. As of June 30, 2026, Rs 48.93 crore earmarked for general corporate purposes and Rs 1.60 crore for issue-related expenses remain unutilized, totaling Rs 50.53 crore held in a State Bank of India monitoring account. While the investment in EIM was implemented without delay, the utilization of funds for general corporate purposes and issue-related expenses is ongoing. The total funds raised were initially reported as Rs 200.31 crore but were adjusted to Rs 200.53 crore due to a change in the number of shares issued.