Ravindra Energy Limited has informed the Exchange about Diversification/Disinvestment
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Ravindra Energy Limited has completed the sale of its entire stake in two subsidiaries — REL Kumbhari Solar Project 10 Private Limited and REL Wardha Solar Project 4 Private Limited — to Hexa Climate Solutions Private Limited on June 19, 2025. The deal, originally approved by the Board in January 2024 and shareholders in February 2024, was executed under a share purchase agreement signed on June 24, 2024. The company received Rs. 21.93 Million for the Kumbhari subsidiary and Rs. 1.98 Million for the Wardha subsidiary. The two entities contributed only 0.23% of consolidated turnover and 1.05% of net worth in the last financial year, with the Wardha entity having negative net worth. The buyer is not related to the promoter group, and the transaction is not a related-party deal or a slump sale.
The divestment is financially small and unlikely to materially affect the company's earnings or stock price. It signals ongoing portfolio rationalisation in the renewable energy space, with proceeds of around Rs. 23.91 Million that may be redeployed. Shareholders should view this as a minor, non-strategic cleanup rather than a major business shift.