Venwind Refex Power (VRPL), a subsidiary of Refex Industries, is in the process to acquire 100% equity shareholding comprising 10,000 equity shares at a face value Rs 10 each in Refex Engineering Products (REPPL), a wholly owned subsidiary of Refex Holding i.e. promoter of the company. As a result of this acquisition, REPPL will become a step-down subsidiary of the company. The transaction will be done in compliance with applicable laws, rules, and regulations.