Claim 70% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Ravindra Energy Ltd. ( (IN:RELTD) ) just unveiled an announcement.
Ravindra Energy Limited has extended a corporate guarantee and undertaking of up to Rs 135 crore to support credit facilities sanctioned by YES Bank to its associate company, Energy in Motion Limited. The backing, approved by Ravindra Energy’s board and shareholders and structured on an arm’s-length basis despite common directorship through promoter Narendra Murkumbi, will help EIM access a total of Rs 296 crore in various credit lines and a Rs 32 crore hedge facility on competitive terms. Management positions this move as being in Ravindra Energy’s overall interest, enabling EIM to expand operations using its own asset base and financial resources while potentially strengthening the group’s strategic footing in energy-related projects without breaching previously approved shareholder limits.
More about Ravindra Energy Ltd.
Ravindra Energy Limited operates in India’s energy sector and holds a 49.50% equity stake in its associate company Energy in Motion Limited (EIM). The group focuses on supporting energy-related businesses and projects, leveraging associate entities such as EIM, which has a paid-up capital of Rs. 100 crore and prospective expansion plans in its principal business activities.
Average Trading Volume: 35,018
Technical Sentiment Signal: Strong Buy
Current Market Cap: 29.79B INR
For a thorough assessment of RELTD stock, go to TipRanks’ Stock Analysis page.