Completion of acquisition of 91.43% equity stake / voting rights in Spectrum Renewable Energy Private Limited during FY26.
Awaiting price reaction for this filing.
Refex Renewables & Infrastructure Limited has completed the acquisition of a 91.43% equity stake and voting rights in Spectrum Renewable Energy Private Limited (SREPL) through its wholly-owned subsidiary, Refex Sustainability Solutions Limited (RSSL). The acquisition was carried out in three tranches — 26.07% on August 5, 2025, 45.98% on August 8, 2025, and 19.38% on March 30, 2026 — under a Share Purchase Agreement dated January 28, 2025. RSSL plans to acquire the remaining 8.57% stake in due course. Spectrum operates in the compressed bio-gas (CBG) and organic manure business, processing press-mud and biodegradable waste at its facility in Warananagar, Kolhapur. This acquisition strengthens Refex Renewables' presence in the clean energy and waste-to-value segment.
This acquisition expands Refex Renewables' footprint in the renewable energy space, particularly in the high-growth compressed bio-gas segment, and could support future revenue and margin growth. Shareholders should view this as a positive step toward scaling the company's clean energy portfolio, with the remaining 8.57% acquisition potentially completing full control over SREPL.