NewsRefex Industries Redeems ₹3 Crore OCDs and Converts ₹4.85 Crore Loan to Equity in Subsidiary VRPLRefex Industries Redeems ₹3 Crore OCDs and Converts ₹4.85 Crore Loan to Equity in Subsidiary VRPL
Refex Industries Limited redeemed OCDs worth ₹3,00,00,000 and converted a loan of ₹4,85,03,664 into 2,768 equity shares in subsidiary Venwind Refex Power Limited on April 08, 2026. The conversion increased Refex Industries' stake in VRPL from 77.39% to 77.77%, aimed at strengthening the subsidiary's capital structure and supporting growth in the power and energy sector.
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Refex Industries Limited has completed the redemption of Optional Convertible Debentures (OCDs) worth ₹3,00,00,000 from its subsidiary Venwind Refex Power Limited (VRPL) on April 08, 2026. The company also converted an outstanding loan amount of ₹4,85,03,664 into equity shares, further strengthening its position in the subsidiary.
Transaction Details
The loan conversion involved the allotment of 2,768 equity shares of VRPL to Refex Industries at a face value of ₹10 each and a premium of ₹17,513 per equity share, totaling a fair value of ₹17,523 per share. This transaction has increased Refex Industries' shareholding in VRPL from 77.39% to 77.77%, representing a 0.38% increase in stake.
| Transaction Component | Amount/Details |
|---|---|
| OCD Redemption | ₹3,00,00,000 |
| Loan Conversion Amount | ₹4,85,03,664 |
| Equity Shares Allotted | 2,768 shares |
| Face Value per Share | ₹10 |
| Premium per Share | ₹17,513 |
| Fair Value per Share | ₹17,523 |
Subsidiary Information
Venwind Refex Power Limited, incorporated on December 20, 2024, operates in the power and energy industry with a focus on wind power and allied sector activities. The subsidiary's paid-up capital increased from ₹16,16,110 to ₹16,43,790 following the conversion, comprising 1,64,379 fully paid-up equity shares of ₹10 each.
| VRPL Details | Information |
|---|---|
| CIN | U27101TN2024PLC175572 |
| Date of Incorporation | December 20, 2024 |
| Industry | Power & Energy |
| Turnover (2024-2025) | NIL |
| Paid-up Capital (Before) | ₹16,16,110 |
| Paid-up Capital (After) | ₹16,43,790 |
Strategic Objectives
The conversion of the outstanding loan into equity shares aims to strengthen VRPL's capital structure and support its future growth and operational expansion. This strategic move is expected to optimize the debt-equity ratio of the subsidiary and enhance its overall financial sustainability. The transaction represents a restructuring of existing financial arrangements rather than fresh capital infusion.
Shareholding Changes
Following the conversion, Refex Industries' shareholding in VRPL increased from 1,25,074 equity shares (77.39%) to 1,27,842 equity shares (77.77%). The transaction falls within related party transactions as VRPL is a subsidiary of Refex Industries and complies with applicable provisions of the Companies Act, 2013 and other relevant regulatory guidelines.
Regulatory Compliance
The disclosure was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, in accordance with the SEBI Master Circular. The transaction was completed on April 08, 2026, and required no additional governmental or regulatory approvals as it involved conversion of existing loan arrangements rather than a fresh acquisition.
Historical Stock Returns for Refex Industries
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +2.12% | +10.84% | +8.04% | -36.89% | -41.49% | +1,013.59% |
What are Refex Industries' expansion plans for VRPL's wind power operations given the strengthened capital structure?
How will the improved debt-equity ratio impact VRPL's ability to secure future financing for renewable energy projects?
Could this transaction signal Refex Industries' strategy to increase its stake in VRPL beyond the current 77.77% in upcoming quarters?
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