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. Additionally, the company approved the transfer of its 100% stake in Refex Sustainable Fuel Limited to Refex Green Power Limited for ₹10 lakh, making it a step-down subsidiary. The Board also recommended increasing authorized share capital from ₹20 Cr to ₹50 Cr, raising borrowing limits to ₹450 Cr, and approved a preferential issue of up to 4,50,000 equity shares at ₹360 per share to non-promoters for up to ₹16.20 Crore. The fair value per share was determined at ₹356.04.