Refex Industries wins ₹20.94 Cr order for ash transportation

Refex Industries has secured an order worth ₹20.94 crore for ash transportation to construction sites of road projects. The contract involves services for the National Highways Authority of India (NHAI) and other Central or State Government road construction departments, including PMGSY Road Projects. This 12-month engagement reinforces the company's presence in the infrastructure logistics sector.

Order Details

The following table summarises the key details of the order as per the disclosure:

Parameter:	Details
Order Value:	~ INR 20.94 Crore
Nature of Work:	Ash Transportation to construction site of road projects of NHAI and other Central or State Government Road construction department / Authority / PMGSY Road Project
Time Period:	12 Months
Entity Type:	Domestic

Operational Context

The order pertains to the transportation of ash, a critical logistics service for infrastructure development. The scope covers the movement of materials to construction sites managed by government authorities such as NHAI and PMGSY. The awarding entity is based in Maharashtra. This contract adds to the company's order book, reflecting continued demand for specialised transportation services in the road construction sector.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-1.42%	-5.41%	+11.48%	+45.65%	-24.20%	+1,113.91%

Refex Holding Private Limited, the promoter of Refex Industries Limited , has created a pledge over 35,00,000 equity shares to secure margin trading funding. The disclosure, submitted to the stock exchanges on July 06, 2026, confirms that the shares were pledged in favor of Axis Securities Limited between June 25, 2026, and June 30, 2026. This transaction increases the promoter's total encumbered shareholding to 24.61% of the company's paid-up capital.

The filing was made pursuant to Regulation 31(1) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. It details that the specific purpose of the encumbrance is margin pledge and margin trading funding for trading on the stock exchange. The value of the shares on the date of the agreement was ₹124,67,00,000, against an amount involved of ₹40,00,00,000, resulting in a security cover ratio of 3.12:1.00.

Shareholding Details

The promoter, Refex Holding Private Limited, holds a total of 7,76,23,085 shares, which constitutes 56.57% of the total share capital of Refex Industries Limited. Following the latest pledge, the total number of encumbered shares held by the promoter stands at 3,37,76,529, representing 24.61% of the total share capital. The document confirms that while the encumbered shares constitute 20% or more of the total share capital, they do not account for 50% or more of the promoter's total shareholding.

Promoter	Total Shares Held	% of Total Share Capital	Encumbered Shares	% of Encumbered Shares
Refex Holding Private Limited	7,76,23,085	56.57	3,37,76,529	24.61

Background of Encumbrances

The disclosure outlines a history of encumbrances dating back to March 2024, involving various entities such as Beacon Trusteeship Limited, Catalyst Trusteeship Limited, and Bhansali Fincom Private Limited. These previous pledges were primarily for personal use by promoters and Persons Acting in Concert (PACs), with some relating to debt instruments issued by Refex Life Sciences Private Limited. The latest pledge to Axis Securities Limited marks the 14th encumbrance event disclosed by the promoter.