Refex Industries Limited has informed the Exchange regarding Notice of 23rd Annual General Meeting to be held on July 18, 2025 and Annual Report for FY 2024-25
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Refex Industries has notified the 23rd Annual General Meeting (AGM) scheduled for Friday, July 18, 2025 at 11:30 a.m. (IST), to be held via video conferencing. The AGM will consider 8 items, including adoption of audited standalone and consolidated financial statements for FY25, reappointment of Ms. Sushmitha Siripurapu as a non-executive director, ratification of the cost auditor's fee of ₹69,000 for FY26, and appointment of a new secretarial auditor for a five-year term. A key proposal is to increase the company's authorized share capital from ₹40 crore to ₹100 crore, creating room for an additional 30 crore equity shares of ₹2 each. Another significant item is seeking shareholder approval to lend up to ₹100 crore to its subsidiary, Venwind Refex Power Limited. The cut-off date for e-voting eligibility is July 11, 2025, with remote e-voting open from July 15 to July 17, 2025.
The authorized capital hike does not issue new shares but prepares the company for potential future fundraising. The proposed ₹100 crore loan to its subsidiary signals continued capital support for the wind power business and will reduce cash reserves at the parent level once approved.