Statement of deviation(s) or variation(s) under Reg. 32

August 14, 2026 Dept. of Corporate Services, National Stock Exchange of India Limited BSE Limited Exchange Plaza, Plot No. C/1, Phiroze Jeejeebhoy Towers, G Block, Bandra-Kurla Complex, Dalal Street, Mumbai- 400001, Bandra (E) Mumbai - 400 051, Maharashtra, India. Maharashtra, India. Scrip Code: 504341 Scrip Code: RELTD ISIN Code: INE206N01018 Dear Sir/Madam, Subject: Submission of Statement of Deviation or Variation in utilization of funds raised through rights issue for Q1-FY2026-27 Pursuant to the provisions under Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed the Statement of Deviation or Variation in utilization of funds raised through rights issue for Q1-FY2026-27. The aforesaid statement 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 Statement on deviation or variation for proceeds of public issue, rights issue, preferential issue, qualified institutions placement etc. Statement on deviation / variation in utilisation of funds raised Name of the Listed Entity Ravindra Energy Limited Mode of Fund Raising Rights Issue of equity shares issued and allotted to shareholders of the Company as on the record date being June 8, 2026 Date of Raising Funds June 25, 2026 Amount Raised Total funds Rs. 2,00,53,48,940 /- In Crores – Rs 200.53 Cr Report filed for quarter ended Q1FY2026-27 Monitoring Agency Yes, Applicable Monitoring Agency Name, if applicable CARE Ratings Limited Is there a deviation/ Variation in use of No fund raised If yes, whether the same is pursuant to Not Applicable change in terms of contract or objects which was approved by the shareholder If Yes, Date of shareholder approval - Explanation for deviation / variation - Comments of the Audit Committee after - review Comments of the auditors, if any - 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 Objects for which funds have been raised and where there has been a deviation, in the following table Modified Original Amount of Deviation/ Modified Object Allocation Funds Utilized Variation for the quarter Original Object allocation, if *Remarks if any if any (Rs. In (Rs. In Crores) according to the applicable Crores) object Investment in Associate company Energy In Motion Limited (EIM) by way of equity investment for repayment of - 150 Crs - 150 Crs - - ICD borrowed by EIM from one of its promoters i.e. Golden Green Innovations Private Limited General Corporate Purpose - 48.93 Crs - - - - Issue Related Expenses - 1.60 Crs - - - - Rs. 200.53 Total - Rs. 150 Crs - - 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 shareh [Showing first 8,000 characters — download PDF for full document]