Ravindra Energy has announced the amalgamation of its subsidiary, Energy In Motion, to integrate its renewable energy and electric mobility businesses. Shareholders of Energy In Motion will receive 209 shares of Ravindra Energy for every 100 shares held. The deal aims to create a combined platform for solar energy, e-HCVs, and battery-swapping infrastructure, streamlining governance while strengthening the company's capital base for future growth.
Ravindra Energy Announces Amalgamation with Energy In Motion
Ravindra Energy will issue 209 shares for every 100 shares of Energy In Motion held by shareholders. The promoter stake in the transferee entity will increase from 58.26% to 74.54% post-merger.
Reader Takeaway: Synergy between solar and e-mobility drives the merger, though meeting minimum public shareholding norms remains critical.
What just happened
Ravindra Energy Limited has approved a Scheme of Amalgamation to merge its associate company, Energy In Motion Limited, into itself. The Board of Directors finalized the deal on September 23, 2026, supported by valuation reports from Transaction Square Advisory LLP and BDO Valuation Advisory LLP, with a fairness opinion provided by Systematix Corporate Services Limited.
Why this matters
The strategic intent is to build an integrated energy-as-a-service platform. By combining Ravindra Energy’s existing solar capabilities with Energy In Motion’s e-HCVs and battery-swapping infrastructure, the company aims to reduce operational redundancies. The consolidation is expected to streamline governance and improve the balance sheet, providing a stronger base for raising capital in the high-growth EV sector.
Shareholding Impact
Post-merger, the promoter shareholding is set to rise significantly from 58.26% to 74.54%. Conversely, public shareholding will adjust from 41.74% to 25.46%.
Risks to watch
The deal is contingent upon obtaining necessary statutory clearances, including approval from the National Company Law Tribunal (NCLT), SEBI, and the stock exchanges. Furthermore, the company must ensure compliance with minimum public shareholding requirements as mandated by regulatory guidelines before completing the NCLT filing process.
Context metrics
As of June 30, 2026, Energy In Motion reported total assets of INR 7,973.23 million and a net worth of INR 3,612.26 million. Ravindra Energy (standalone) reported a net worth of INR 6,579.11 million for the same period.