Please find enclosed the outcome of Board meeting dated May 16, 2026.
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The Board of Directors of Ravindra Energy Ltd approved a Rights Issue of equity shares with face value of Rs. 10 each at an issue price of Rs. 101 per share, for an amount not exceeding Rs. 2,050 million (approximately Rs. 205 crore). Existing shareholders will receive 1 Rights Equity Share for every 9 fully paid-up equity shares held on the record date. Additionally, the Board considered a proposal to consolidate the business of Energy In Motion Limited with the Company, and constituted a Business Strategic Reorganization Committee to evaluate the feasibility and commercial rationale of this proposed transaction. The consolidation remains subject to further board approval and regulatory clearances.
The Rights Issue will dilute existing shareholders by approximately 11% as new shares are issued. The capital raise and potential consolidation with Energy In Motion Limited indicate the company is pursuing growth and business expansion, which could be positive for long-term valuation but may create short-term dilution pressure on the stock.