Ravindra Energy secures Rs 100 crore loan from Tata Capital for solar SPVs
Ravindra Energy Limited has executed a loan agreement with Tata Capital Limited for a term loan facility of up to Rs 100 crore to fund investments in its solar project Special Purpose Vehicles (SPVs).
The financing will be used for investment requirements at the solar project SPVs and is separate from project finance loans raised at the SPV level. The loan agreement was executed on July 30, 2026.
The facility carries a floating interest rate of 12.50% per annum, payable monthly. The transaction is not a related-party transaction.
The loan is secured by a first charge on the fixed assets and current assets of Ravindra Energy, along with a first charge on cash flows upstreamed from the project SPVs.
The security package also includes a personal guarantee from Narendra Murkumbi, promoter of Ravindra Energy, and a corporate guarantee from Khandepar Investments Private Limited, also a promoter of the company. Promoters will additionally pledge equity shares equivalent to the loan amount.
Under the terms of the financing, Tata Capital has the right to appoint a nominee to Ravindra Energy’s Board if an event of default occurs and for the period during which the default continues.
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