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Refex Renewables Proposes Rs 16.2 Crore Preferential Issue To North Star


17 October 2026
Refex Renewables & Infrastructure Ltd.

Board approved preferential issue of 4.5 lakh shares at Rs360 for Rs16.2 Cr to North Star Opportunities Fund FPI, auth capital hike to Rs50 Cr and borrowing limit to Rs450 Cr. First external equity in recent record to partly repay promoter loans; borrowing hike funds capex and working capital on stressed promoter-backed balance sheet with internal solar SPV consolidation. 9.1% dilution cuts promoter to 68%. Needs postal ballot nod by Nov 16; asset charge proposed. Repayment timeline 30 days; added debt headroom raises leverage risk.


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