Regulatory14 Aug 2026, 09:31 pm
Ravindra Energy: No Deviation in Preferential Issue Proceeds Utilization
AI Summary
Ravindra Energy Ltd has submitted its Monitoring Agency Report for Q1-FY2026-27, prepared by India Ratings and Research Private Limited. The report confirms that the utilization of proceeds from the preferential issue, amounting to INR 180 Crores, has been in line with the stated objects. The company's management provided an undertaking, supported by a certificate from statutory auditors P. Ishwara and Bhat & Co., confirming no deviation. The preferential issue involved the allotment of 2,43,24,313 equity shares at ₹74 per share between October 10-16, 2024.
Key Highlights
- Monitoring Agency confirms no deviation in preferential issue proceeds.
- Report covers Q1-FY2026-27 utilization of INR 180 Crores.
- India Ratings & Research appointed as Monitoring Agency.
- Statutory Auditor certificate supports management's undertaking.
- Issue involved 2.43 Cr equity shares at ₹74 each.
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