REL invests Rs 150 Cr in associate EIM via Rights Issue proceeds

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AI summary

Ravindra Energy (REL) invested about Rs. 150 crores in associate Energy In Motion (EIM) by subscribing to 45.67 lakh equity shares at Rs. 328.41 each. The funds, raised through REL's Rights Issue, will be used by EIM to repay an inter-corporate deposit owed to a promoter group entity. EIM provides electric mobility solutions for long-haul freight, with FY26 turnover of Rs. 1,806.88 million. REL's stake in EIM rises marginally from 49.50 percent to 49.54 percent.

Likely market impact

Funds deployed as planned under Rights Issue objects; stake in EV mobility associate rises slightly to 49.54 percent. Limited direct EPS impact.