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

Promoter Refex Holding Pvt Ltd reported two pledge events dated 23-09-2026.

Thu 24 Sep 2026

Pledged shares created

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

Pledged shares released

8,33,333 shares in favour of Ellenbarrie Industrial Gases Limited

Total pledged shares

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

Promoter holding

7,76,23,085 shares (56.56% of paid-up capital)

Encumbered shares ratio

46.85% of promoter holding

What was shared

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

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

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

Where the numbers stand

• Promoter holding: 7,76,23,085 shares, 56.56% of paid-up capital.
• Pledged before the creation event: 3,67,02,103 shares (26.75%).
• After creation: 3,72,02,103 shares (27.11%).
• After the release: 3,63,68,770 shares (26.50%).
• Encumbered shares as a percentage of promoter shareholding: 46.85% — the update states this is not 50% or more of promoter holding, but is 20% or more of total share capital.

Existing encumbrances on record

The disclosure lists 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, Shringee Packaging and Ancilliary 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.

Amounts involved against these pledges include ₹40,00,00,000/-, ₹335,00,00,000/-, ₹435,00,00,000, ₹25,00,00,000/-, ₹20,00,00,000/- and several of ₹5,00,00,000/-. Some of these are additional margin pledges created against earlier facilities, including for price fluctuation. End use is stated mainly as personal use by promoters and PACs, with some entries as collateral for loans taken by Refex Holding Private Limited.

How to read it

Pledged promoter shares are shares given as security against borrowings. They remain part of promoter holding but can be invoked by the lender if obligations are not met. Here, one facility was closed and its security released, while a smaller new pledge was created, leaving the overall pledged level slightly lower than before the two events. The borrowings involved are at the promoter entity level, and the stated purpose for most pledges is personal use by promoters and PACs rather than the listed company's funding.

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