Disclosure under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 - Acquisition of equity shares in Venwind Refex Power Limited, a Subsidiary Company, pursuant to Rights Issue.
REFEX · price
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Refex Industries Limited has subscribed to a Rights Issue of its subsidiary, Venwind Refex Power Limited (VRPL), a wind power company. VRPL allotted 1,712 equity shares to Refex at a face value of ₹10 each plus a premium of ₹17,513 per share, as part of a total Rights Issue of about ₹3 crore (₹2,99,99,376). Following this, Refex's stake in VRPL dipped from 77.77% to 76.81%, and then further to 73.28% after VRPL converted its Class A OCDs (in which Refex did not participate). VRPL was incorporated in December 2024, reported nil turnover in FY25, and the fresh capital is aimed at funding its future growth and operational expansion in the wind power sector. This is a routine subsidiary capital infusion with cash consideration and required no separate regulatory approvals.
This is a minor, non-material development for shareholders — Refex retains a controlling 73.28% stake in its wind power subsidiary. The dilution is small and the capital raise supports growth of a new subsidiary rather than any change in Refex's consolidated business.