Refex Industries Limited has announced a shift in its shareholding percentage in its subsidiary, Venwind Refex Power Limited (VRPL). Following a Rights Issue of equity shares and the conversion of Class A Optional Convertible Debentures (OCDs) by VRPL, the parent company’s stake has been adjusted. Refex Industries maintains a strong position in the subsidiary, with its ownership now revised to 73.28% as part of the entity’s ongoing capital and operational expansion.
Strategic Capital Expansion
Venwind Refex Power Limited (VRPL), a subsidiary focused on the power and energy sector, has completed a Rights Issue of equity shares. Through this offering, VRPL issued shares at a face value of ₹10 with a premium of ₹17,513 per share. The move is designed to augment the capital base of the subsidiary, providing the necessary liquidity to facilitate future growth and operational scaling in the wind power and allied energy industries.
Changes in Shareholding Structure
The shareholding composition of VRPL underwent two primary changes. Initially, the parent company, Refex Industries Limited, participated in the Rights Issue, which resulted in an initial shift in ownership from 77.77% to 76.81%. Subsequently, the conversion of Class A Optional Convertible Debentures (OCDs) into equity by other holders further diluted the parent company’s stake. Following these combined transactions, Refex Industries Limited now holds a 73.28% equity interest in the subsidiary.
Future Outlook for VRPL
Established on December 20, 2024, Venwind Refex Power Limited remains a core component of the parent company’s energy portfolio. By strengthening its capital base through this ₹2.99 crore investment, the subsidiary is well-positioned to pursue its growth objectives within the Indian power market. The entity continues to focus on wind power and related infrastructure activities as it builds its operational presence.
Source: BSE
