Ravindra Deploys 96% of INR 180 crore Preferential Issue
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Ravindra has almost fully deployed the INR 180 crore raised, but EV spending lags while renewable projects push ahead.
- INR 180 crore raised via preferential issue; INR 172.5 crore (≈96%) already utilized, leaving INR 7.5 crore (4.2%) idle.
- Renewable Energy arm overspent its INR 90 crore target to INR 96 crore, with a board‑approved six‑month extension to finish projects by mid‑April 2026 and drive new generation, storage and trading assets.
- Electric Vehicle business has used only ≈78% of its INR 60 crore allocation (INR 46.51 crore), leaving INR 13.49 crore idle and raising concerns over delayed rollout of charging, battery and assembly plans.
- Unused cash (INR 8 crore) sits in low‑risk Fixed Deposits (SBI @ 4.5% p.a., Axis @ 3.75% p.a.), preserving liquidity but offering modest returns amid potential interest‑rate shifts.
- Forward outlook: Renewable projects expected to be largely operational by Q2 2026, while EV fund deployment is slated to pick up in H2 2026; overall balance sheet remains strong.
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