Refex Renewables Subsidiary Acquires 3 Companies

Refex Green Power Limited, a wholly-owned subsidiary of Refex Renewables & Infrastructure Ltd, has acquired equity stakes in three companies: Refex Vayu SPV 1 Private Limited, Refex Vayu SPV 2 Private Limited, and Grey To Green Transition Private Limited (proposed name change to Refex Vayu SPV 3 Private Limited). This acquisition makes these entities step-down subsidiaries or associate companies of Refex Renewables. Refex Vayu SPV 1 and Grey To Green Transition Private Limited are now wholly-owned step-down subsidiaries, while Refex Vayu SPV 2 Private Limited is a step-down associate. The acquisitions are aimed at strengthening the company's renewable energy portfolio, particularly in wind power generation, and are expected to be completed by September 25, 2026. The transactions are considered related party transactions but are being conducted on an arm's length basis.