Refex Industries Raises VRPL Stake to 77.39%

Refex Industries converted Class B OCDs worth ₹43 crore into 24,866 equity shares of subsidiary Venwind Refex Power Limited.
Shareholding in VRPL increased by 4.11%, moving from 73.28% to 77.39%, with shares allotted at ₹17,283 premium per share.
Conversion aimed at strengthening VRPL's capital structure and optimising debt-equity ratio; no fresh capital infusion involved.
VRPL, incorporated December 2024, operates in wind power and allied sectors with NIL turnover for FY2024-25.