Ravindra Energy invests ₹150 crore in Energy In Motion

Ravindra Energy Limited (REL) has invested approximately ₹150 crore in its associate company, Energy In Motion Limited (EIM), through a rights issue subscription. The investment follows REL’s completion of a ₹200 crore equity raise through its own rights issue.

The company subscribed to 45,67,463 equity shares of EIM at an issue price of ₹328.41 per share, amounting to an investment of approximately ₹150 crore. An equal amount has been invested by other shareholders of Energy In Motion, shared Shantanu Lath, CEO at REL.

Following the allotment, REL’s shareholding in EIM increased from 49.50% to 49.54%, and EIM will continue to be an associate company of REL. According to REL, the capital raised through the rights issue will support the deployment of EIM’s battery-swapping network and its distributed solar projects.

According to the filing, the investment is aligned with the stated objects of the rights issue, including repayment of an inter-corporate deposit (ICD) borrowed by EIM from Golden Green Innovations Private Limited, one of its promoters.

EIM, incorporated on March 19, 2024, operates in the electric freight mobility segment. The company provides electric mobility solutions for long-haul freight transportation through electric trucks supported by battery-swapping and charging infrastructure. Its business model includes supplying battery packs, charging and swapping infrastructure, and energy services under long-term contracts, while electric tractors are sold without battery packs.

The transaction qualifies as a related-party transaction as EIM is an associate company of REL. The company stated that the investment was undertaken on an arm’s-length basis and was made pursuant to shareholder approval obtained through a postal ballot on January 5, 2026.

For FY2025-26, EIM reported a turnover of ₹1,806.88 million, compared with ₹5.22 million in FY2024-25, its first year of operations following incorporation.

Also read: Energy In Motion to launch FOTON’s electric HCVs in India starting Q2 FY25-26