Subsidiary acquires 3 wind power SPVs; total cost about 5.09 crore

Refex Green Power, a wholly-owned subsidiary, acquired stakes in 3 wind energy SPVs: 100 percent in Refex Vayu SPV 1 (about 2.55 crore), 49 percent in Refex Vayu SPV 2 (about 2.53 crore), and 100 percent in Grey To Green Transition (about 1 lakh). They become step-down subsidiaries or associate. The SPVs are newly set up for wind power IPPs based on tenders won by Refex Green Power. This is a related party transaction, as the seller is the promoter group entity Refex Holding. Total cost about 5.09 crore, all paid in cash.