Refex Industries Limited has informed the Exchange regarding Appointment of Mr Vineet Kothari as Non- Executive Independent Director of the company w.e.f. Jun 19, 2025.
REFEX · price
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Refex Industries' Board, at its June 19, 2025 meeting, approved the appointment of Dr. Vineet Kothari (former Rajasthan/Karnataka/Madras/Gujarat High Court Judge and Senior Advocate) as a Non-Executive Independent Director for a first 5-year term ending June 18, 2030, subject to shareholder approval at the upcoming AGM. The Board also re-appointed STARP & Associates as Cost Auditor for FY25-26 and appointed A. Mohan Kumar & Associates as Secretarial Auditor for a 5-year term covering FY25 to FY30. Additionally, the authorised share capital is being increased from ₹40 crore to ₹100 crore (divided into 47.5 crore equity shares of ₹2 each), again subject to shareholder approval. The 23rd AGM has been scheduled for July 18, 2025 via video conferencing, with e-voting window from July 15-17, 2025, and July 11, 2025 set as the cut-off date.
The 150% increase in authorised share capital signals that Refex may be preparing for a future fundraising or stock split, though no immediate dilution is announced. The addition of a high-profile Independent Director with strong legal and governance credentials is a positive governance signal. None of these items are likely to move the stock sharply on their own, but the capital authorisation may be relevant if a rights issue or preferential allotment follows.