Ravindra Energy Ltd. Approves Capital Reclassification & Issues Equity Shares Worth INR 179.99 Crores

Ravindra Energy Ltd. announced that its Board of Directors approved the reclassification of the authorized share capital and the issuance of equity shares on a preferential basis. The company will reclassify its authorized share capital from 17,55,00,000 equity shares and 4,30,00,000 preference shares to 20,00,00,000 equity shares and 1,85,00,000 preference shares. Additionally, Ravindra Energy will issue 2,43,24,313 equity shares worth INR 179.99 crores to several allottees, including COEUS Global Opportunities Fund, Quant Mutual Fund, Manufacturing Fund, and other investors. The new shares will be offered at a premium of INR 64 each.