Refex Renewables Approves ESOP Allotment & Subsidiary Transfer
Refex Renewables & Infrastructure Ltd's Board of Directors has approved the allotment of 3,938 equity shares under its ESOP scheme, increasing the paid-up capital to ₹4,50,18,730. Additionally, the company approved the disinvestment of its entire 100% stake in wholly-owned subsidiary Refex Sustainable Fuel Limited (RSFL) to another wholly-owned subsidiary, Refex Green Power Limited (RGPL), for a cash consideration of ₹10 lakh. This makes RSFL a step-down subsidiary of RGPL. The Board also recommended increasing authorized share capital from ₹20 Crore to ₹50 Crore, increasing borrowing limits to ₹450 Crore, and approved a preferential issue of up to 4,50,000 equity shares to non-promoters for up to ₹16.20 Crore at an issue price of ₹360 per share.
Key Highlights
- 3,938 ESOPs exercised, increasing paid-up capital.
- 100% stake in Refex Sustainable Fuel transferred to Refex Green Power.
- Authorized share capital to increase from ₹20 Cr to ₹50 Cr.
- Borrowing limits to rise to ₹450 Cr.
- Preferential issue of up to 4,50,000 shares at ₹360 each approved.
Price Impact
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