Ravindra Energy Approves 209:100 Share Swap Merger With Energy In Motion

Board approved amalgamation of Energy In Motion (e-HCV, battery-swapping) into Ravindra Energy. Swap 209 REL shares for every 100 EIM shares, subject to exchanges, SEBI, NCLT nods. To combine solar with e-HCV charging-swapping for integrated decarbonization platform and larger capital base. REL holds 49.54% in EIM; ratio per joint valuation. Promoter stake to 74.54% from 58.26%. Public holding to dilute to 25.46% from 41.74%; to ensure minimum public holding before NCLT. Needs shareholder, creditor approvals; all-share deal, no cash.