Refex Industries Limited Allots 11,05,000 Shares to SunEdison on Preferential Basis

Refex Industries alloted 11,05,000 equity shares to SunEdison on preferential basis and revised paid-up equity share capital of the company.

The Banking & Authorization Committee of the Board of Directors of Refex Industries Limited, in its meeting held on October 07, 2022, has allotted 11,05,000 equity shares of face value of ₹10/- each, for cash consideration of ₹130/- per equity share, including a premium of ₹120/- per equity share (Equity Shares), aggregating to ₹14,36,50,000/- (Rupees Fourteen Crore Thirty-Six Lakh Fifty Thousand only) to SunEdison Energy India Private Limited (SEIPL) (erstwhile Sherisha Technologies Private Limited having amalgamated with SEIPL w.e.f. September 08, 2022), one of the Promoters of the Company, on preferential basis.

These Equity Shares shall be subject to the provisions of the Memorandum and Articles of Association of the Company and rank pari-passu with the existing equity shares of the Company in all respects including the payment of dividend and voting rights from the date of allotment thereof and shall be subject to lock-in for a period of 18 (eighteen) months, from the date of trading approval granted for such Equity Shares by the stock exchanges, namely, NSE & BSE.

After allotment of the aforesaid equity shares, the issued, subscribed and paid-up equity share capital of the Company stands increased from ₹21,00,20,240/- to ₹22,10,70,240/-.

SunEdison, Inc. is a renewable energy company headquartered in the U.S. In addition to developing, building, owning, and operating solar power plants and wind energy plants, it also manufactures high purity polysilicon, monocrystalline silicon ingots, silicon wafers, solar modules, solar energy systems, and solar module racking systems. Originally a silicon-wafer manufacturer established in 1959 as the Monsanto Electronic Materials Company.