Refex Industries Completes Rights Issue in Subsidiary Venwind Refex Power Limited Worth ₹2.99 Crore

Refex Industries Limited has successfully completed the acquisition of additional equity shares in its subsidiary Venwind Refex Power Limited (VRPL) through a rights issue transaction completed on April 25, 2026. The transaction, disclosed under Regulation 30 of SEBI Listing Regulations, resulted in changes to the company's shareholding structure in its power sector subsidiary.

Rights Issue Transaction Details

The rights issue involved VRPL allotting 1,712 equity shares to Refex Industries and other shareholders. The transaction structure included shares with a face value of ₹10 each, offered at a premium of ₹17,513 per share. The total value of the rights issue amounted to ₹2,99,99,376.

Transaction Parameter Details Shares Allotted 1,712 equity shares Face Value ₹10 per share Premium ₹17,513 per share Total Issue Value ₹2,99,99,376 Completion Date April 25, 2026 Consideration Type Cash

Shareholding Changes and Impact

Following the rights issue, Refex Industries' shareholding in VRPL initially changed from 77.77% to 76.81%. However, subsequent conversion of Class A Optional Convertible Debentures (OCDs) by other debenture holders further diluted the company's stake. Refex Industries was not a party to the OCD conversion transaction.

Shareholding Stage Percentage Pre-Rights Issue 77.77% Post-Rights Issue 76.81% Post-OCD Conversion 73.28%

Subsidiary Profile and Capital Structure

Venwind Refex Power Limited operates in the power and energy industry with a focus on wind power and allied sector activities. The subsidiary was incorporated on December 20, 2024, making it a relatively new entity within the Refex group structure.

Capital Structure Changes

Capital Details Before Transaction After Transaction Number of Shares 1,64,379 shares 1,76,787 shares Paid-up Capital ₹16,43,790 ₹17,67,870 Turnover (2024-2025) NIL NIL

Strategic Objectives

The rights issue was undertaken with the objective of augmenting the capital base of Venwind Refex Power Limited and facilitating its future growth and operational expansion in the renewable energy sector. The transaction represents a related party transaction as VRPL is a subsidiary of Refex Industries, conducted in accordance with applicable provisions of the Companies Act, 2013 and relevant regulatory guidelines.

The completion of this rights issue strengthens VRPL's financial position while maintaining Refex Industries' majority control in the subsidiary, supporting the group's expansion in the wind power segment of the renewable energy sector.

Refex Industries has officially secured a significant contract worth ₹32.12 crore for pond ash transportation services to NHAI PWD Road Construction Sites. The company announced this major business development, highlighting the strategic importance of this infrastructure support contract that will be completed within one year.

Contract Specifications

The comprehensive contract details reveal the scope and significance of this transportation services agreement. The order encompasses pond ash transportation services that will directly support NHAI's road construction activities across various project sites.

Contract Parameter: Details Contract Value: ₹32.12 crore Duration: 1 year Service Type: Transportation of pond ash to NHAI PWD Road Construction Sites End Client: NHAI (National Highways Authority of India) Project Scope: Road construction support services

Strategic Business Impact

This substantial contract award positions Refex Industries as a key logistics partner in India's infrastructure development ecosystem. The agreement provides assured revenue streams over the one-year contract period while supporting the nation's road infrastructure expansion initiatives.

The partnership with NHAI demonstrates Refex Industries' operational capabilities in handling large-scale transportation requirements for critical infrastructure projects. This contract strengthens the company's position in the infrastructure support services sector and showcases its ability to secure significant orders from premier government organizations.

Infrastructure Development Contribution

The pond ash transportation services will play a crucial role in supporting NHAI's road construction activities. Pond ash, a byproduct of thermal power plants, is increasingly used in road construction as an eco-friendly alternative material, contributing to sustainable infrastructure development practices.

This contract reflects the growing demand for specialized logistics services in India's expanding infrastructure sector, positioning Refex Industries to capitalize on the government's continued focus on road development and connectivity projects across the country.

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