Monitoring Agency Report

August 14, 2026 Dept. of Corporate Services, National Stock Exchange of India Limited BSE Limited Exchange Plaza, Plot No. C/1, G Block, Phiroze Jeejeebhoy Towers, Bandra-Kurla Complex, Bandra (E) Dalal Street, Mumbai- 400001, Mumbai - 400 051, Maharashtra, India. Maharashtra, India. Scrip Code: 504341 Scrip Code: RELTD ISIN Code: INE206N01018 Dear Sir/Madam, Subject: Submission of Monitoring Agency report for Q1-FY2026-27 Pursuant to the provisions under Regulation 32(6) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and Regulation 82(4) of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, please find enclosed herewith report for Q1-FY2026-27, issued by CARE RATINGS LIMITED, Monitoring Agency, appointed to monitor the utilization of proceeds of rights issue made by the Company. The aforesaid report is also being made available on the website of the Company at: www.ravindraenergy.com Kindly take the above information on record and disseminate the same for the information of the stakeholders. Thank you. Yours’ faithfully, FOR RAVINDRA ENERGY LIMITED Mr. Madhukar Shipurkar Company Secretary & Compliance Officer Membership No: A64947 Registered Office: BC 105, Havelock Road, Camp, Belgaum – 590001, Karnataka, India. P: +91-831-2406600 | CIN: L40104KA1980PLC075720 | W: www.ravindraenergy.com | E: contact@ravindraenergy.com Monitoring Agency Report No. CARE/HO/GEN/2026-27/1114 The Board of Directors Ravindra Energy Limited BC 105, Havelock Road, Camp, Belgaum, Karnataka, (India) - 590 001 August 06, 2026 Dear Sir/Ma’am, Monitoring Agency Report for the quarter ended June 30, 2026 - in relation to the Rights Issue of Ravindra Energy Limited (“the Company”) We write in our capacity of Monitoring Agency for the Rights Issue for the amount aggregating to ₹200.53 crore of the Company and refer to our duties cast under 82 of the Securities & Exchange Board of India (Issue of Capital & Disclosure Requirements) Regulations. In this connection, we are enclosing the Monitoring Agency Report for the quarter ended June 30, 2026, as per aforesaid SEBI Regulations and Monitoring Agency Agreement dated May 16, 2026. Request you to kindly take the same on records. Thanking you, Yours faithfully, Ashish A Kambli Associate Director ashish.k@careedge.in Monitoring Agency Report Report of the Monitoring Agency Name of the issuer: Ravindra Energy Limited For quarter ended: June 30, 2026 Name of the Monitoring Agency: CARE Ratings Limited (a) Deviation from the objects: No (b) Range of Deviation: Not applicable Declaration: We declare that this report provides an objective view of the utilization of the issue proceeds in relation to the objects of the issue based on the information provided by the Issuer and information obtained from sources believed by it to be accurate and reliable. The MA does not perform an audit and undertakes no independent verification of any information/ certifications/ statements it receives. This Report is not intended to create any legally binding obligations on the MA which accepts no responsibility whatsoever for loss or damage from the use of the said information. The views and opinions expressed herein do not constitute the opinion of MA to deal in any security of the Issuer in any manner whatsoever. Nothing mentioned in this report is intended to or should be construed as creating a fiduciary relationship between the MA and any issuer or between the agency and any user of this report. The MA and its affiliates also do not act as an expert as defined under Section 2(38) of the Companies Act, 2013. The MA or its affiliates may have credit rating or other commercial transactions with the entity to which the report pertains and may receive separate compensation for its ratings and certain credit related analyses. We confirm that there is no conflict of interest in such relationship/interest while monitoring and reporting the utilization of the issue proceeds by the issuer, or while undertaking credit rating or other commercial transactions with the entity. We have submitted the report herewith in line with the format prescribed by SEBI, capturing our comments, where applicable. There are certain sections of the report under the title “Comments of the Board of Directors”, that shall be captured by the Issuer’s Management / Audit Committee of the Board of Directors subsequent to the MA submitting their report to the issuer and before dissemination of the report through stock exchanges. These sections have not been reviewed by the MA, and the MA takes no responsibility for such comments of the issuer’s Management/Board. Signature: Name and designation of the Authorized Signatory: Ashish A Kambli Designation of Authorized person/Signing Authority: Associate Director Monitoring Agency Report 1) Issuer Details: Name of the issuer : Ravindra Energy Limited Name of the promoter : Khandepar Investments Private Limited Dr. Vidya Murkumbi Mr. Narendra Murkumbi Supriya Shailesh Rojekar Industry/sector to which it belongs : Solar Power Generation and Trading 2) Issue Details Issue Period : June 16, 2026, to June 24, 2026 Type of issue (public/rights) : Rights Issue Type of specified securities : Equity shares IPO Grading, if any : Not applicable Issue size (in crore) : ₹ 200.53 crore 3) Details of the arrangement made to ensure the monitoring of issue proceeds: Comments of Source of information / certifications Particulars Reply considered by Monitoring Agency for Comments of the Monitoring Agency the Board of preparation of report Directors -Letter of Offer -Corrigendum to the Letter of Offer -Bank statement of Monitoring Account with SBI Whether all utilization is as per the disclosures in The utilization of the issue proceeds is in line with the No comment Yes -Finance Committee Board Resolution for the Offer Document? objects specified in the offer document. received allocation of the objects as per revised issue size^ -Management Confirmation -CA Certificate* Whether shareholder approval has been Not No comment obtained in case of material deviations# from Not applicable No comments applicable received expenditures disclosed in the Offer Document? -Letter of Offer The issue size has been revised from ₹200.31 crore Whether the means of finance for the disclosed -Corrigendum to the Letter of Offer No comment Yes to ₹200.53 crore on account of appropriate objects of the issue have changed? -Finance Committee Board Resolution for received adjustment for fractional entitlements.^ allocation of the objects as per revised issue size Monitoring Agency Report Comments of Source of information / certifications Particulars Reply considered by Monitoring Agency for Comments of the Monitoring Agency the Board of preparation of report Directors -Management Confirmation -CA Certificate* Is there any major deviation observed over the Not Not applicable since it is first Monitoring Agency No comment earlier monitoring agency reports? applicable Not applicable report. received Whether all Government/statutory approvals Not Not required for the specified objects as per offer No comment related to the object(s) have been obtained? applicable Not applicable document. received Whether all arrangements pertaining to technical Not Not required for the specified objects as per offer No comment assistance/collaboration are in operation? applicable Not applicable document. received Are there any favorable/unfavorable events No comment affecting the viability of these object(s)? No Not applicable - received Is there any other relevant information that may No comment materially affect the decision making of the No Not applicable - received investors? * Chartered Accountant certificate from P. Ishwara Bhat & Co dated July 30, 2026 ^ The said revision has been approved through ‘Corrigendum to the Letter of Offer’ issued dated June 12, 2026. The board of directors has passed a resolution dated May 16, 2026, which provides ri [Showing first 8,000 characters — download PDF for full document]