Promoter Refex Holding Private Limited has created a pledge over 4,75,000 equity shares of Refex Industries , representing 0.35% of the company’s total share capital. The encumbrance was established on September 1, 2026, to serve as collateral for loans taken by the promoter.

The disclosure was filed with stock exchanges on September 3, 2026, pursuant to Regulation 31(1) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The shares were pledged in favor of KR Choksey Financial Services Private Limited.

Pledge Details

Promoter Shareholding Status

As of September 3, 2026, Refex Holding Private Limited holds a total of 7,76,23,085 shares, constituting 56.56% of the paid-up share capital. Of this holding, 3,39,33,612 shares remain encumbered, accounting for 24.72% of the total share capital.

The disclosure notes that while the encumbered shares represent 43.72% of the promoter’s total holding, this figure does not exceed the 50% threshold relative to promoter shareholding. However, the encumbered stake does exceed 20% of the company’s total share capital.

What the Numbers Show

The latest pledge adds to a series of encumbrances created between March 2024 and August 2026. While the new pledge is relatively small at 0.35% of total capital, it brings the cumulative pledged stake to nearly a quarter of the company’s equity. All disclosed encumbrances, including this latest one, cite personal use by promoters or collateral for promoter loans as the end use of funds, indicating the debt is held at the holding company level rather than being utilized for operational working capital within the listed entity.

Refex Industries Limited appointed Anil S. Kulkarni and Prasad Jakkaraju as Senior Management Personnel (SMP) effective August 22, 2026. The Board of Directors approved the designations following a recommendation from the Nomination and Remuneration Committee.

Refex Industries disclosed the appointments under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The move aligns with the company’s operational structure across its core divisions.

Executive Appointments

The board designated the two executives to lead specific business units and functional areas:

Both appointments took effect on August 22, 2026. The company confirmed that there are no relationships between these appointees and the existing directors.

Professional Backgrounds

Anil S. Kulkarni brings over 29 years of experience in the ready-mix concrete and building materials industry. He holds a B.E./B.Tech. in Civil Engineering and an MBA/PGDM in Marketing. His expertise covers business operations, profit centre management, strategic growth, market expansion, and operational excellence.

Prasad Jakkaraju has more than 22 years of experience in sustainability, environmental health and safety (EHS), and regulatory compliance. He holds a B.Tech. in Chemical Engineering along with professional certifications in sustainability, energy management, GHG emissions, and ISO management systems. His background spans manufacturing, chemical, agrochemical, and consumer products sectors.