Investment1 Jul 2026, 07:30 am
Ravindra Energy Invests ₹150 Cr in Associate EIM
AI Summary
Ravindra Energy Ltd (REL) has invested approximately ₹150 crores in its associate entity, Energy In Motion Limited (EIM), through a rights issue. REL subscribed to 45,67,463 equity shares of EIM at an issue price of ₹328.41 per share. This investment is in line with the objects of REL's Rights Issue and is intended for the repayment of an ICD borrowed by EIM from a promoter entity. EIM focuses on clean mobility solutions, particularly electric tractors for long-haul freight transportation, offering battery packs and charging infrastructure. The transaction is considered a related party transaction and was undertaken at an arm's length, with shareholder approval obtained via postal ballot.
Key Highlights
- REL invested ₹150 Cr in associate Energy In Motion Limited (EIM).
- Investment made via rights issue subscription to EIM equity shares.
- Funds to be used for repayment of EIM's ICD to a promoter.
- EIM operates in electric mobility solutions for freight transportation.
- Transaction deemed arm's length with shareholder approval.
Price Impact
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