Refex Renewables & Infrastructure Ltd — Updates, 21-05-2025: Company Update

Refex Renewables & Infrastructure Limited has announced a board meeting on which it approved the financial results for the quarter and half-year ended March 31, 2025, with an unmodified audit opinion. The company has withdrawn its previously approved ₹160 Cr rights issue due to market conditions and regulatory changes, opting to reassess its capital needs later. It plans to sell its entire stake in Ishaan Solar Power Private Limited, a non-core subsidiary generating minimal revenue and causing audit qualifications since 2018-19. The sale is at a fair value of ₹212.21 per share to a promoter-related buyer and is not expected to materially impact consolidated financials. Additionally, Refex is selling a 0.01% stake in SILRES Energy Solutions Private Limited at ₹10 lakh and transferring its “SUNEDISON” trademark to SILRES for ₹1 Cr as it rebrands under “REFEX.”