Refex Holding Private Limited, the promoter of Refex Industries Limited, has disclosed the creation of pledges over a substantial portion of its equity shares. This action is part of arrangements for loans taken by the company. The disclosure, made on September 3, 2026, details multiple encumbrances totaling 3,39,33,612 shares, representing 24.72% of the promoter’s total shareholding.
Refex Promoter Creates Share Pledges
Refex Holding Private Limited (RHPL), the promoter entity for Refex Industries Limited, has announced the creation of multiple pledges over its equity shares. This disclosure, made on September 3, 2026, is in accordance with SEBI regulations concerning substantial acquisition of shares and takeovers.
Details of Share Encumbrance
The total promoter shareholding in Refex Industries Limited stands at 7,76,23,085 shares, representing 56.56% of the total paid-up share capital. As of the reporting date, a significant portion of these shares, amounting to 3,39,33,612 shares (24.72%), have been encumbered. This encumbered shareholding constitutes approximately 43.72% of the promoter’s total shareholding.
Reasons and Beneficiaries
The pledges have been created primarily as collateral for loans obtained by the company (RHPL). The details provided in the annexures list several encumbrance events, with various dates extending from March 21, 2024, to September 1, 2026. The beneficiaries of these pledges include entities such as Beacon Trusteeship Limited, Catalyst Trusteeship Limited, Bhansali Fincom Private Limited, Axis Securities Limited, Northern Arc Capital Limited, and KR Choksey Financial Services Private Limited. The end use of the borrowed funds is predominantly for the personal use of promoters and Persons Acting in Concert (PACs).
Significant Encumbrance Thresholds
The disclosure also confirms that the encumbered shares do not represent 50% or more of the promoter’s shareholding, but they do exceed 20% of the total share capital of Refex Industries Limited.
Source: BSE
