Refex Green Power Ltd to divest stake in Flaunt Solar Energy Pvt Ltd

The Board of Directors of Refex Green Power Limited ("RGPL"), a wholly-owned subsidiary company of Refex Renewables & Infrastructure Limited, at its meeting held today i.e., October 14, 2025, has considered and approved the disinvestment by way of sale of 74% equity stake held in Flaunt Solar Energy Private Limited ("Flaunt"), a subsidiary of RGPL and a step-down subsidiary of the Company.

The Company has identified a potential buyer who has expressed interest in the project for certain commercial considerations. RGPL shall continue to retain a majority financial interest in the Company by way of OCDs and the proposed equity sale is for a nominal portion on a fully diluted basis.

As per valuation report obtained from a practicing-chartered accountant, the fair value per equity share of Flaunt is negative.

Accordingly, RGPL has approved to transfer the entire 74% equity stake to the prospective buyer of Flaunt, who has shown interest to acquire the shareholding held in Flaunt, at face value which is equal to the cost of investment.

Shares of Refex Renewables & Infrastructure Ltd was last trading in BSE at Rs. 721.35 as compared to the previous close of Rs. 707.25. The total number of shares traded during the day was 3540 in over 30 trades.

The stock hit an intraday high of Rs. 721.35 and intraday low of 717.75. The net turnover during the day was Rs. 2553557.00.

Source : Equity Bulls

Keywords

RefexRenewablesandInfrastructure INE332F01018 RefexGreenPower StakeSale FlauntSolarEnergy