Refex Industries promoter pledge rose after Refex Holding Private Limited created an additional pledge over 4,13,002 equity shares on September 29, 2026, according to a BSE disclosure posted on October 5, 2026. The additional shares represent 0.30% of the listed company's total share capital and were pledged in favour of Beacon Trusteeship Limited.

The transaction took Refex Holding's total encumbered holding to 3,67,81,772 shares, or 26.80% of total share capital, from 3,63,68,770 shares, or 26.50%, previously. The promoter holds 7,76,23,085 shares in Refex Industries, equivalent to a 56.56% stake, according to the disclosure dated October 1, 2026.

The filing identifies the event as the creation of a pledge and states the purpose as personal use by promoters and persons acting in concert.

Additional security for existing arrangement

Annexure II identifies the latest transaction as an additional pledge against an existing encumbrance dated March 21, 2024. That arrangement names Beacon Trusteeship Limited as trustee for the benefit of Vivriti Capital Limited.

  • The original arrangement covered 24,58,213 shares.
  • The additional 4,13,002 shares took the combined pledged shares under that arrangement to 28,71,215.
  • The amount against which those shares were encumbered is disclosed as ₹40 crore.

The annexure reports an aggregate share value of ₹78,11,14,041 for this arrangement and an asset-cover ratio of 1.95:1. It describes the latest pledge as additional security; the ₹40 crore figure relates to the existing arrangement and is not identified as fresh borrowing arising from this event.

Encumbrance reaches 47.39% of promoter holding

The disclosure states that encumbered shares account for 47.39% of total promoter shareholding. It also confirms that encumbrance remains below 50% of promoter shareholding while exceeding 20% of the listed company's total share capital.

The promoter submitted the disclosure under Regulation 31(1) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Anil Jain signed it as managing director of Refex Holding Private Limited in Chennai.

Refex Industries is listed on the National Stock Exchange under the symbol REFEX and on BSE under scrip code 532884.