Refex Holding Private Limited, the promoter of Refex Industries Limited, has disclosed the creation of pledges over a substantial portion of its equity shares. These pledges are primarily for personal use by promoters and PACs, as well as collateral for loans taken by Refex Holding Private Limited. The disclosures, made under SEBI regulations, detail multiple encumbrance events spanning from March 2024 to September 2026, involving various entities and significant amounts.
Refex Industries Promoter Discloses Share Pledges
Refex Holding Private Limited, the promoter of Refex Industries Limited, has formally announced the creation of pledges over a significant number of its equity shares, as mandated by Regulation 31(1) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. These disclosures detail multiple encumbrance events occurring between March 21, 2024, and September 22, 2026.
Details of Encumbrances
The promoter has pledged shares for various reasons, including personal use by promoters and PACs and as collateral for loans taken by Refex Holding Private Limited (RHPL). The encumbrances are structured across numerous events, with dates ranging from March 21, 2024, to September 22, 2026. Several entities are beneficiaries of these pledges, including Frazer Goods & Supply Private Limited, Infosoft Global Private Limited, Beacon Trusteeship Limited, Catalyst Trusteeship Limited, Bhansali Fincom Private Limited, Axis Securities Limited, Northern Arc Capital Limited, KR Choksey Financial Services Private Limited, Shringee Packaging and Ancilliary Private Limited, and Ellenbarrie Industrial Gases Limited.
The total promoter shareholding in Refex Industries Limited is 7,76,23,085 shares, representing 56.56% of the total share capital. As of September 23, 2026, a significant portion of these shares are encumbered. For instance, Encumbrance No. 2, dated July 30, 2025, involves 1,29,28,061 shares (9.42% of share capital) for a value of ₹580,21,13,777. Other encumbrances, such as Encumbrance No. 3 dated December 15, 2025, involve 5,20,833 shares (0.38% of share capital) for ₹18,71,25,000. The aggregate number of pledged shares reported across various annexures indicates a substantial pledging of holdings.
Promoter Holding and Encumbrance Breakdown
The disclosures highlight a detailed breakdown of promoter holdings and the extent of their encumbrance. As of September 23, 2026, Refex Holding Private Limited holds 7,76,23,085 shares (56.56% of paid-up share capital), with 3,67,02,103 shares (26.75% of paid-up share capital) being pledged. The annexures provide specific details for each encumbrance, including the number of shares pledged, the percentage of total share capital, the date of creation, the type of encumbrance, the entity in whose favour the shares are encumbered, and the end use of the money raised.
Notably, the total promoter shareholding in the listed company is 7,76,23,085 shares, with 47.28% of the promoter shareholding being encumbered. The document also confirms that the encumbered shareholding is 20% or more of the total share capital, classifying it as a significant event under the regulations.
Source: BSE
