Refex Industries Limited has announced a change in its shareholding in its subsidiary, Venwind Refex Power Limited (VRPL), following a recent rights issue. The company accepted the rights issue, resulting in the allotment of 1,712 equity shares at a face value of ₹10 each, with a premium of ₹17,513 per share. This has led to a reduction in Refex Industries‘ shareholding in VRPL from 77.77% to 76.81%.
In addition to the rights issue, VRPL has converted its Class A Optional Convertible Debentures (OCDs) into equity shares, which were allotted to the respective debenture holders. Refex Industries was not involved in this transaction, but it has further impacted the company’s stake in VRPL, which now stands at 73.28%.
Venwind Refex Power Limited, engaged in the power and energy industry with a focus on wind power, undertook the rights issue to augment its capital base and support future growth and operational expansion. The rights issue was valued at ₹2,99,99,376 and was conducted in accordance with the Companies Act, 2013, and other relevant regulatory guidelines.
The paid-up capital of VRPL increased from ₹16,43,790 to ₹17,67,870 following the transactions. Notably, VRPL reported no turnover for the financial year 2024-2025.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).