About Ravindra Energy Limited (REL)

Ravindra Energy Limited (REL) is a public company incorporated on May 28, 1980, with its registered office in Belgaum, Karnataka. Its shares are listed on BSE and, from July 30, 2024, on the National Stock Exchange of India Limited (NSE) as well. The registered office is at BC 105, Havelock Road, Camp, Belgaum, Karnataka 590001.

The company develops and executes solar power projects and provides end‑to‑end solutions spanning installation and commissioning, operations and maintenance (O&M), and the sale of electricity. REL’s revenue streams also include contract revenue from solar projects and share of profit from limited liability partnerships (LLPs) associated with project development . The company’s footprint in India includes Karnataka—where it, along with its LLPs, has installed, commissioned and synchronised 15 ground‑mounted projects aggregating 34 MW—and Maharashtra, where projects are being developed under the Mukhyamantri Saur Krishi Vahini Yojana (MSKVY) and related initiatives.

As per the consolidated auditors’ report, the group included 29 subsidiaries at the close of the financial year. REL also had transactions with LLPs and an associate as part of its consolidated results set-up . Key milestones in the latest year include commissioning of 34 MW in Karnataka, NSE listing, and continued expansion in Maharashtra via utility tie‑ups.

Ravindra Energy Limited (REL) Key Management

• Vidya Murkumbi, Executive Chairperson
• Shantanu Lath, Whole-time Director & Chief Executive Officer
• Vikas Pawar, Chief Financial Officer
• Madhukar Shipurkar, Company Secretary

Latest Updates on Ravindra Energy Limited (REL)

• Listing on NSE: In addition to BSE, REL’s shares were admitted to trading on NSE with effect from July 30, 2024, broadening market access for investors.
• Capital structure move: Members approved reclassification of authorised share capital at an Extraordinary General Meeting on October 5, 2024, to facilitate equity issuance on a preferential basis.
• Project and offtake: The company reported entering into another power purchase agreement with MSEDCL, further advancing its Maharashtra project pipeline .
• Portfolio reshaping: REL divested stakes in multiple subsidiaries and an LLP to HEXA Climate Solutions and other buyers; after March 31, 2025, two additional entities ceased to be subsidiaries following stake sales. The buyers were not related to the promoter group, and disclosures were made to stock exchanges.
• ESOPs: The Employees Stock Option Scheme 2022 remained in force for eligible employees of the company, its subsidiaries and associate, with accounting in line with Ind AS 102 Share‑based Payments.
• Group restructuring: Auditors drew attention to write‑offs recognised on voluntary liquidation of the foreign subsidiary, Renuka Energy Resource Holdings (FZE).
• Fund‑raising plan: On August 29, 2025, the Board decided to raise up to Rs 500 crore via Qualified Institutional Placement, with intended use including renewable energy expansion and exploration of electric vehicle–related initiatives, subject to approvals.