Promoter creates pledge on 5,00,000 shares and releases 8,33,333 shares; 26.50% of capital now pledged

Promoter Refex Holding Private Limited reported a fresh pledge and a release, both dated 23-09-2026.

Thu 24 Sep 2026

Fresh Pledge Created

5,00,000 shares (0.36% of capital) in favour of Minecs Finvest Private Limited

Pledge Released

8,33,333 shares held with Ellenbarrie Industrial Gases Limited

Total Pledged Shares

3,63,68,770 shares (26.50% of total share capital)

Promoter Shareholding

7,76,23,085 shares (56.56% of total capital)

Encumbered Shares Ratio

46.85% of promoter shareholding

What was shared

Refex Holding Private Limited, the promoter of Refex Industries Limited, shared a disclosure under Regulation 31(1) and 31(2) of the SEBI (SAST) Regulations, 2011, reporting both the creation and the release of a pledge over equity shares.

The two events (both dated 23-09-2026)

• Creation: pledge over 5,00,000 shares, being 0.36% of total share capital, in favour of Minecs Finvest Private Limited. Reason stated: personal use by promoters and PACs.
• Release: pledge over 8,33,333 shares held in favour of Ellenbarrie Industrial Gases Limited, on release of security upon closure of the facility.

Where the numbers stand now

• Promoter holding: 7,76,23,085 shares, or 56.56% of paid-up capital.
• Pledged shares after these events: 3,63,68,770 shares, or 26.50% of total share capital.
• Encumbered shares as a percentage of promoter shareholding: 46.85%.
• The update confirms encumbered shares are not 50% or more of promoter shareholding, but are 20% or more of total share capital.

Existing encumbrances on record

The promoter listed fifteen encumbrance events, all of the pledge type, in favour of lenders and counterparties including Beacon Trusteeship Limited (for Vivriti Capital Limited), Catalyst Trusteeship Limited (for Touchstone Trust Scheme VI), Bhansali Fincom Private Limited, Axis Securities Limited, Northern Arc Capital Limited, KR Choksey Financial Services Private Limited, Shivangini Properties Private Limited, Hind Filters Private Limited, Frazer Goods & Supply Private Limited, Infosoft Global Private Limited and Minecs Finvest Private Limited.

Some of the larger ones: 1,29,28,061 shares (9.42%) dated 30.07.2025 against an amount of ₹335,00,00,000 linked to secured, unrated, unlisted optionally convertible and non-convertible debentures issued by Refex Life Sciences Private Limited; 50,45,816 shares (3.67%) dated 25.02.2026 as additional margin pledge against ₹435,00,00,000; and 35,00,000 shares (2.55%) dated 25.06.2026 against ₹40,00,00,000.

End use is mostly stated as personal use by promoters and PACs. Three entries — those in favour of Northern Arc Capital Limited and KR Choksey Financial Services Private Limited — state collateral for loans taken by Refex Holding Private Limited.

How to read it

A pledge means the promoter has given its shares as security for borrowings. The shares remain owned by the promoter and voting rights are unaffected unless the pledge is invoked. A high share of promoter holding under pledge is generally watched closely by investors, since a fall in share value can trigger demands for additional margin — visible here in the entries described as additional pledge due to price fluctuation. The release reported in this update reduces the total encumbered count relative to before.

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