Ravindra Energy: No Deviation in Rights Issue Fund Utilization

Ravindra Energy Ltd has filed its Statement of Deviation for Q1-FY2026-27 concerning its Rights Issue. The company raised ₹200.53 crore through the rights issue, which was allotted on June 25, 2026. The funds were utilized for investment in its associate company, Energy In Motion Limited (EIM), for repayment of ICDs amounting to ₹150 crore, general corporate purposes (₹48.93 crore), and issue-related expenses (₹1.60 crore). The monitoring agency, CARE Ratings Limited, has confirmed that there is no deviation or variation in the utilization of funds raised. The report covers the period ending June 30, 2026.