Refex Industries allots debentures in Venwind Refex Power

Refex Industries Limited, on September 6, 2025, confirmed the allotment of 4,30,00,000 Class B - 0.01% Optionally Convertible Debentures (OCDs) in its subsidiary, Venwind Refex Power Limited (VRPL). Each OCD has a face value of ₹10, totaling ₹43,00,00,000. This transaction follows a share subscription agreement and shareholders' agreement dated December 24, 2024, and aims to meet VRPL's fund requirements.

VRPL, incorporated on December 20, 2024, operates in the power and energy industry, with a focus on wind power and allied sectors. It is currently a subsidiary of Refex Industries Limited, with the parent company holding 75.50% of its equity. The debentures have a tenure of 10 years, with an option to convert within a period of 9 years and 11 months, and the consideration for this acquisition was a conversion of loan.

This strategic move is in compliance with applicable laws and regulations, including the Companies Act, 2013, and the SEBI Listing Regulations, 2015. While there is no immediate change in shareholding, post-conversion, the shareholding will adjust based on a valuation report.