Corporate News
Promoter Mr. Narendra Madhusudan Murkumbi and Khandepar Investments Private Limited have pledged shares in Ravindra Energy Limited (REL) to TATA Capital Limited as security for loans totaling approximately Rs. 49.61 crore, Rs. 21.39 crore, Rs. 15 crore, and Rs. 100 crore, respectively. The loans are intended for infusion into project Special Purpose Vehicles (SPVs) and general corporate purposes, with repayment scheduled over 55 quarterly installments. Additionally, KIPL pledged shares to secure a loan for its wholly-owned subsidiary, REL Rural Warehousing Limited (RRWL), to repay existing debt using non-convertible debentures. The share pledges, which represent between 0.05% and 1.32% of REL’s total shares, carry market values ranging from Rs. 1.48 crore to Rs. 45.16 crore, and are part of REL’s ongoing expansion through solar projects and related ventures.