Refex Renewables & Infrastructure on Monday said its arm Refex Sustainability Solutions Ltd. has completed acquisition of 51% stake in Vyzag Bio-Energy Fuel.
According to a regulatory filing, Vyzag Bio-Energy Fuel has become a subsidiary of RSSL and step-down subsidiary of Refex Renewables & Infrastructure from Dec. 30, 2024.
RSSL, a wholly-owned subsidiary firm, has completed the acquisition of 51.03% equity stake, from the existing promoters and investment by way of fresh equity infusion in Vyzag Bio, thereby, making this entity, a subsidiary of RSSL and step-down subsidiary of Refex Renewables & Infrastructure from Dec. 30, 2024, the filing said.
Vyzag Bio operates a Compressed Bio-Gas plant producing biogas from segregated municipal waste, which involves processing organic material derived from municipal solid waste.
The plant is designed with a capacity to output 850 kg of CBG per day, making it a significant contributor to green fuel production.
Earlier, in a separate filing, the company stated that the cost of acquisition is approximately Rs 2.90 crore, towards acquiring shares from existing promoters and fresh capital infusion.
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