Refex Renewables & Infrastructure Ltd — Important, 14-10-2025: Company Update

Refex Renewables & Infrastructure's wholly-owned subsidiary, Refex Green Power Limited (RGPL), has approved the sale of its entire 74% equity stake in step-down subsidiary Flaunt Solar Energy Private Limited. A valuation report indicated Flaunt's equity share fair value is negative. RGPL will transfer the stake for ₹0.074 Cr, equivalent to face value and cost of investment. RGPL will retain a majority financial interest in Flaunt through Optionally Convertible Debentures (OCDs). Flaunt contributed approximately ₹3.00 Cr in turnover (~6.00%) and had a net worth of ₹2.73 Cr (excluding OCDs) for the last financial year. This move simplifies the group structure while maintaining financial exposure.