The latest Refex Industries pledge news has attracted attention among investors and market observers after the promoter entity disclosed the creation of additional share pledge in the company. According to the regulatory filing submitted to stock exchanges, Refex Holding Private Limited, the promoter of Refex Industries Limited, has created a fresh pledge on equity shares to provide collateral security for debentures issued by a subsidiary company.

The disclosure was made under Regulation 31(1) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, which requires promoters and promoter group entities to inform stock exchanges whenever shares are pledged, invoked, or released. The update forms an important part of Refex Industries latest News and is now among the Top News Headlines in Refex Industries Category.

Fresh Share Pledge by Promoter

As per the filing, Refex Holding Private Limited pledge was created on February 25, 2026, involving 50,45,816 equity shares of Refex Industries Limited. This represents approximately 3.67 percent of the company’s total share capital.

The pledge has been created in favour of Catalyst Trusteeship Limited, which is acting as the debenture trustee and common security trustee on behalf of the debenture holder Touchstone Trust Scheme VI, managed by Touchstone Capital Limited.

This new development forms a significant part of the Refex Industries share pledge February 2026 update that has been disclosed to both stock exchanges.

Promoter Shareholding Structure

The promoter entity Refex Holding Private Limited currently holds 7,65,23,085 equity shares of the company. This accounts for 55.80 percent of the total share capital of Refex Industries Limited.

Prior to the latest pledge creation, a portion of the promoter holding was already pledged. With the addition of the new pledge, the total number of encumbered shares held by the promoter now stands at:

3,16,36,946 shares

This represents:

• 41.34 percent of the promoter shareholding

• More than 20 percent of the company’s total share capital

This update forms a key part of the Refex Industries promoter holding pledge update disclosed through regulatory filings.

Purpose of the Share Pledge

The pledged shares are being used to provide and maintain collateral security for debentures issued by a group company.

The subsidiary involved is:

Refex Life Sciences Private Limited

The pledged shares support secured, unrated, unlisted optionally convertible and non convertible debentures issued by the subsidiary.

These debt instruments have a face value of Rs 10 lakh each and are not listed on stock exchanges. The securities also do not carry a formal credit rating at present.

The pledge therefore acts as a security mechanism for lenders and investors who subscribed to the debentures.

Role of the Debenture Trustee

In this arrangement, Catalyst Trusteeship Limited serves as the debenture trustee. Trusteeship entities play a critical role in protecting the interests of debenture holders.

Their responsibilities typically include:

• Monitoring the security cover provided by the issuer

• Holding pledged shares as collateral

• Enforcing security in case of default

• Ensuring compliance with debt covenants

This structure ensures that investors participating in the debt instrument have adequate security backing their investment.

Multiple Encumbrance Events

The latest pledge is part of a series of encumbrance events disclosed by the promoter entity in the regulatory filing. Over the past two years, several pledges have been created involving different financial counterparties.

These include entities such as:

• Beacon Trusteeship Limited

• Vivriti Capital Limited

• Bhansali Fincom Private Limited

• Comfort Fincap Limited

• Anadya Properties Private Limited

• Catalyst Trusteeship Limited

These transactions form part of broader financing arrangements undertaken by promoter entities.

The disclosure of these pledges is mandatory under the Refex Industries promoter encumbrance reporting framework required by SEBI regulations.

Security Cover and Financial Structure

In financing transactions involving pledged shares, lenders often evaluate the security cover ratio. This is calculated by comparing the value of pledged shares against the loan or debt amount.

The regulatory filing shows that the pledged shares provide varying levels of security cover across different financing agreements.

In certain transactions, the value of pledged shares exceeds the debt amount, providing additional protection to lenders. In others, additional margin pledges have been created to maintain the required collateral coverage.

These details are part of the broader Refex Industries corporate governance update disclosed to stock exchanges.

End Use of Borrowed Funds

The regulatory filing also clarifies that funds raised through certain financing arrangements linked to pledged shares were utilized for personal use by promoters and persons acting in concert.

Such disclosures are mandatory under SEBI takeover regulations to ensure transparency regarding the purpose of borrowing against promoter shareholdings.

Importantly, the filing does not indicate that the borrowed funds were used for operational requirements of Refex Industries Limited itself.

Importance of Regulatory Disclosure

The Refex Industries NSE BSE disclosure demonstrates the importance of transparency in capital markets. SEBI requires promoters to report any encumbrance on their shareholding because such actions can have implications for investors.

Pledged shares can sometimes influence investor perception because they indicate that promoters have used their equity stake as collateral to raise financing.

However, pledging shares is also a common financing practice in corporate India, especially for promoter entities seeking liquidity or funding for group companies.

Promoter Group Overview

The promoter group of Refex Industries Limited includes several individuals and entities connected to the founding family.

Key promoter group members include:

• Refex Holding Private Limited

• Refex Family Trust

• Mr. Tarachand Jain

• Ms. Ugamdevi Jain

• Mr. Anil Jain

• Ms. Dimple Jain

• Mr. Yash Jain

Among these, Refex Holding Private Limited holds the majority of promoter shares and therefore plays the central role in financing arrangements involving pledged shares.

About Refex Industries Limited

Refex Industries Limited is a Chennai based company involved in multiple business segments including:

• Refrigerant gas refilling and distribution

• Ash and coal handling solutions

• Environmental and sustainability services

• Logistics and infrastructure services

The company has expanded its operations over the years through strategic diversification and investments in group companies.

Developments related to Refex Life Sciences debentures pledge news highlight how promoter entities often support group subsidiaries through structured financing arrangements backed by share collateral.

Investor Perspective on Share Pledges

For investors tracking Refex Industries latest News, promoter share pledges can provide useful insights into the financial strategies of promoter groups.

Important factors that investors typically evaluate include:

• Percentage of promoter holding pledged

• Purpose of borrowing

• Financial strength of the promoter entity

• Stability of the company’s share price

In the case of Refex Industries promoter pledged shares, the latest disclosure indicates that although the pledged shares constitute a significant portion of promoter holding, the overall promoter stake in the company remains unchanged.

This means there has been no sale or dilution of promoter ownership, only creation of collateral security.

Regulatory Framework Governing Pledges

SEBI introduced stricter disclosure requirements for pledged shares after concerns about transparency in promoter financing.

Under current regulations:

• Promoters must disclose any pledge creation within two working days.

• Details of lenders, purpose of pledge, and security cover must be reported.

• Exchanges must publish this information for investors.

The Refex Industries regulatory filing news is therefore part of this transparency mechanism that ensures investors remain informed about significant developments affecting promoter shareholding.

Market Significance

Although share pledges are common in corporate financing, the level of pledged shares relative to promoter holding often becomes an important metric for market participants.

In the case of Refex Industries promoter encumbrance, the pledged shares represent:

• 41.34 percent of promoter shareholding

• More than 20 percent of the company’s share capital

Such disclosures allow investors to assess potential risks associated with promoter financing arrangements.

Conclusion

The latest Refex Industries pledge news highlights the creation of a fresh pledge by promoter entity Refex Holding Private Limited involving 50,45,816 shares of Refex Industries Limited. The pledge was created to provide collateral security for debentures issued by subsidiary Refex Life Sciences Private Limited.

Following this transaction, total encumbered shares held by the promoter have increased to 3,16,36,946 shares, representing 41.34 percent of promoter shareholding.

The disclosure, made under SEBI takeover regulations, ensures transparency for investors and reinforces the importance of regulatory compliance in Indian capital markets. As part of Top News Headlines in Refex Industries Category, the update provides valuable insight into promoter financing strategies and the evolving governance landscape in listed companies.

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