Ravindra Energy Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32
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Ravindra Energy Limited has filed a quarterly compliance statement showing how it used the Rs. 180 Crores raised through a preferential issue in October 2024. The company has used Rs. 172.50 Crores so far (about 96% of the total). Within the 10% reallocation limit already approved by shareholders, the company shifted Rs. 6 Crores from its Electric Vehicle (EV) business to its Renewable Energy business. So Renewable Energy received Rs. 96 Crores (fully utilised), EV business received Rs. 54 Crores (Rs. 46.51 Crores utilised), and General Corporate Purposes received Rs. 30 Crores (Rs. 29.99 Crores utilised). India Ratings and Research is acting as the monitoring agency for this issue. The company confirmed there is no formal deviation requiring fresh shareholder approval.
This is a routine compliance filing with no negative surprise — the small Rs. 6 Crore shift between objects was already pre-approved by shareholders and stays within SEBI's permitted 10% limit. Shareholders should note that the EV business is using funds more slowly (Rs. 46.51 Cr of Rs. 54 Cr), which may reflect slower execution in that segment, while the Renewable Energy allocation is fully deployed.