Refex Industries Reports Redemption of OCDs and Converts Loan to Equity in Subsidiary
Refex Industries Limited announced a transaction involving its subsidiary, Venwind Refex Power Limited (VRPL). The company reported the redemption of Optional Convertible Debentures (OCDs) held by Refex Industries Limited and the conversion of an outstanding loan amount into equity shares within VRPL.On April 08, 2026, VRPL redeemed the OCDs held by Refex Industries Limited, amounting to ₹3,00,00,000, as per the terms of the issue.
Furthermore, VRPL converted an outstanding loan amount of ₹4,85,03,664 extended by Refex Industries Limited. This conversion was structured into equity shares, each having a face value of ₹10/- and a fair value of ₹17,523 per equity share.
As a result of these transactions, Refex Industries Limited was allotted 2,768 equity shares of Venwind Refex Power Limited. This allotment increased Refex Industries Limited's shareholding in VRPL by 0.38%, moving its stake from 77.39% to 77.77%.
The details of the target entity, Venwind Refex Power Limited, were outlined in the accompanying report.
The following table summarizes key figures regarding the capital structure and transactions:
| Particulars | Details |
|---|---|
| VRPL Paid-up Capital (before conversion) | 1,61,611 fully paid-up equity shares of ₹10/- each, aggregating to ₹16,16,110/- |
| VRPL Paid-up Capital (pursuant to conversion) | 1,64,379 fully paid-up equity shares of ₹10/- each, aggregating to ₹16,43,790/- |
| Loan Amount Converted | ₹4,85,03,664 |
| Equity Shares Allotted | 2,768 |
| Increase in Stake | 0.38% (from 77.39% to 77.77%) |
The objective of the conversion was stated as strengthening the capital structure of the Subsidiary and supporting its future growth and operational expansion, which is expected to optimize the debt-equity ratio. The transaction involves the conversion of a part of the outstanding unsecured loan of ₹4,85,03,664 into 2,768 equity shares of VRPL, at a face value of ₹10 each and a premium of ₹17,513 per equity share.
REFEX Stock Price Movement
Today, Refex Industries Limited shares edged higher to close at ₹224.19, rallying 5.35% on an uptick for the day. The stock finished trading with a total traded volume of 748,005 shares.Source:
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