Corporate News
Ravindra Energy Limited and its subsidiaries have secured loans totaling approximately 496.10 crore rupees, with shares pledged as collateral to TATA Capital Limited and JM Financial Products Limited. Promoters, including Mr. Narendra Madhusudan Murkumbi, and Khandepar Investments Private Limited (KIPL) have pledged shares valued at a combined 11.21 crore rupees to secure the loans. Loan proceeds are primarily intended for infusion into project special purpose vehicles awaiting financial closure, with one loan of 100 crore rupees designated for general corporate purposes. Subsidiary REL Rural Warehousing Limited also received a loan. Asset cover to loan amount ratios vary, ranging from 0.10:1 to 1.46:1, indicating varying degrees of lender security.