Ravindra Energy Limited has informed the Exchange about Divestment of stake in subsidiary entity
RELTD · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Ravindra Energy Limited has fully exited Hirehalli Solar Power Project LLP by resigning as a partner and divesting its entire 79% stake for Rs. 10.25 Crores, effective June 11, 2025. The LLP was engaged in the renewable energy business and contributed only Rs. 3.11 Crores (1.24%) to consolidated turnover and Rs. 8.48 Crores (2.50%) to net worth as of March 31, 2025, making it a non-material subsidiary. The buyers are four individuals — Mr. Balaraj Stella Mary, Mr. Pavan Chinnaraj Raj, Mr. Prem Chinna Raaj, and Mr. Chinnaraj S. — none of whom belong to the promoter or promoter group. Post-transaction, Ravindra Energy holds 0% in the LLP and it ceases to be a subsidiary.
This is a small, non-material divestment unlikely to meaningfully affect the stock price or shareholder value, as the divested unit was a minor contributor to both revenue and net worth. The Rs. 10.25 Crore inflow is modest and the deal required no shareholder approval.