The Exchange has received the Disclosures of reasons for encumbrance by promoter of listed companies under Reg. 31(1) read with Regulation 28(3) of SEBI (SAST) Regulations, 2011 on July ....
REFEX · price
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Promoter Refex Holding Private Limited (holding 53.33% stake) has created a pledge on 1,29,28,061 equity shares of Refex Industries, equal to 10% of total share capital, on July 30, 2025. The pledge is in favour of Catalyst Trusteeship Limited (Debenture Trustee) as collateral security for financing availed by a subsidiary company, Refex Life Sciences Private Limited, for issuance of secured, unrated, unlisted debentures of face value ₹10 lakhs each. The value of pledged shares stands at approximately ₹529 crore against an encumbrance amount of ₹610 crore, giving a coverage ratio of 0.87:1. With this, the total encumbered promoter shares rise to 2,00,76,274 (15.53% of share capital), up from 5.53% earlier.
Shareholders should note that the promoter has pledged an additional 10% stake to secure subsidiary-level debt. While the promoter retains majority control, the high pledge coverage ratio (below 1x) and the fact that it is for a subsidiary's debentures introduces some additional risk for retail investors to monitor.