Refex Industries Sends Ballot to Raise Limit to ₹3,300 crore
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Refex Industries is asking shareholders to approve a ₹3,300 crore investment ceiling and a ₹2,010 crore related‑party deal with its wind‑power arm, which could add up to ₹1,300 crore of debt if used modestly.
- The board proposes raising the Section 186 limit from ₹2,500 crore to ₹3,300 crore, giving more flexibility for loans, guarantees and securities.
- A related‑party transaction with Venwind Refex Power Ltd (VRPL) worth ₹2,010 crore—about 82 % of Refex’s FY25 consolidated turnover—is slated for the next fiscal year.
- If the new ceiling is tapped at only 30‑40 % utilisation, Refex’s total debt could swell by ₹1,000‑₹1,300 crore.
- Shareholders can vote online from 1 April to 30 April 2026 (ballot receipt cut‑off 27 March 2026); results are expected on 5 May 2026.
- The moves aim to fund wind‑farm projects as India’s renewable‑energy capacity is projected to grow by more than 30 GW each year.
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