Ravindra Energy invests Rs 150 crore in Energy In Motion
Ravindra Energy Limited has invested approximately Rs 150 crore in its associate company, Energy In Motion Limited (EIM), by subscribing to 45,67,463 equity shares through a rights issue. The investment will be used to repay inter-corporate deposits borrowed by EIM from Golden Green Innovations Private Limited, one of its promoters.
Rights issue investment
The shares were allotted at Rs 328.41 each, comprising a face value of Rs 10 and a securities premium of Rs 318.41 per share. The subscription was made through cash consideration via banking channels.
Prior to the allotment, Ravindra Energy held a 49.5% stake in EIM. Following the rights issue, its shareholding has increased marginally to 49.54%, and EIM will continue to remain an associate company.
The investment has been made in accordance with the “Objects of the Issue” outlined in EIM’s Letter of Offer dated June 3, 2026.
Electric mobility business
Incorporated on March 19, 2024, EIM provides integrated electric mobility solutions for long-haul freight transportation, focusing on heavy-duty electric trucks supported by battery-swapping and charging infrastructure.
During FY26, the company recorded sales of 277 electric heavy commercial vehicles and deployed another 34 vehicles on lease.
EIM reported revenue of Rs 1,806.88 million in FY2025-26, compared with Rs 5.22 million in FY2024-25. Revenue for the fourth quarter of FY26 stood at Rs 1,011.0 million. The company reported a net loss of Rs 152.9 million for the year, reflecting continued investment in infrastructure and product development.
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