Ravindra Energy was locked in upper circuit of 5% at Rs 99.58 after the company announced that its board approved raising of funds aggregating to Rs 179.99 crore on preferential basis.
The company approved issue of 2,43,24,313 equity shares having face value of Rs 10 each, at a premium of Rs 64 per equity share, aggregating to Rs 179.99 crore. Some of the prominent investors include Ashish Kacholia, Mukul Agrawal and Quant Manufacturing Fund.Ravindra Energy is principally engaged in selling solar pumps, setting up of solar generation power plant (ground mount & rooftop) & generation and sale of power.
The companys consolidated net profit jumped 64.4% to Rs 5.59 crore despite of 60.7% slide in net sales to Rs 22.71 crore in Q1 FY25 over Q1 FY24.
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