Refex Holding Private Limited, the promoter of Refex Industries Limited, has disclosed the creation of pledges over a substantial portion of its equity shares. As of September 16, 2026, approximately 3,39,33,612 shares, representing 24.72% of the total share capital held by the promoter, have been pledged. These pledges are primarily for collateral against loans taken by the company and for personal use by promoters and PACs.
Promoter Disclosure on Share Pledges
Refex Holding Private Limited, the promoter entity for Refex Industries Limited, has formally notified stock exchanges regarding the creation of encumbrances on its equity shareholdings. This disclosure, made pursuant to SEBI regulations, details significant pledge activities impacting its stake in Refex Industries.
Key Details of Encumbrance
As of September 16, 2026, Refex Holding Private Limited holds 7,76,23,085 shares, constituting 56.56% of the total share capital of Refex Industries Limited. Out of this holding, a total of 3,57,02,103 shares have been pledged, representing 26.02% of the promoter’s total share capital and 24.72% of the promoter’s total shares held.
Reasons for Encumbrance
The encumbrances have been created for various reasons. As detailed in the annexures, specific pledges were made to provide collateral for loans taken by the company, including a significant pledge on September 11, 2026, for 2,68,491 shares (0.20% of share capital) to Northern Arc Capital Limited. Other pledges are for the personal use of promoters and PACs, such as 10,00,000 shares (0.73% of share capital) pledged on September 15, 2026, to Shivangini Properties Private Limited, and 5,00,000 shares (0.36% of share capital) pledged on September 16, 2026, to Hind Filters Private Limited.
The document further details numerous other encumbrances across various dates in 2024, 2025, and 2026, indicating ongoing financial arrangements by the promoter. These include pledges to entities like Beacon Trusteeship Limited, Catalyst Trusteeship Limited, and Bhansali Fincom Private Limited, often tied to loans or debentures. The end use of funds for these pledges is predominantly personal use by promoters and PACs, with some instances of collateral for loans taken by the company (RHPL).
Shareholding Post-Encumbrance
Following these pledges, the total promoter shareholding in Refex Industries Limited remains at 56.56%. However, the encumbered portion of the promoter’s shareholding constitutes 45.99% of the promoter’s total shareholding, with 26.02% of the total share capital now encumbered. The disclosure confirms that the encumbered share is not 50% or more of the promoter’s shareholding but is 20% or more of the total share capital.
Source: BSE
