Ravindra Energy Limited has submitted its Statement of Deviation or Variation in the utilization of funds raised through a preferential issue of equity shares. The funds, amounting to ₹180 Crores, were raised on October 16, 2024, and allotted to persons belonging to the public category.

For the third quarter ended December 31, 2025 (Q3 FY2025-26), the company reported no deviation or variation in the utilization of these funds, as per Regulation 32 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The total funds raised were ₹179,99,99,162, rounded off to ₹180 Crores. The monitoring agency for these funds is India Ratings and Research Private Limited.

While the overall utilization shows no deviation, there has been a modification in the allocation of funds for the same objects. An additional ₹6 Crores has been allocated to 'Investment in Renewable Energy Business', increasing its allocation from ₹90 Crores to ₹96 Crores, and the entire ₹96 Crores has been utilized. Conversely, the allocation for 'Investment in Electrical Vehicle Business' has been reduced by ₹6 Crores, from ₹60 Crores to ₹54 Crores, with ₹46.51 Crores utilized. The allocation for 'General Corporate Purpose' remains unchanged at ₹30 Crores, with ₹29.99 Crores utilized. These modifications in allocation, up to 10% of the funds, were previously approved by the shareholders in accordance with BSE and NSE circulars dated December 13, 2022.