Refex industries Limited has announced securing a significant order worth ₹49.22 crore for material handling and transit operations for bulk commodity material. The contract, awarded by a Mini Ratna Company, spans a period of 3 years and represents a substantial addition to the company's order book.

Order Details and Scope

The comprehensive contract encompasses material handling and transit operations specifically designed for bulk commodity material. This domestic order demonstrates the company's capabilities in handling large-scale logistics and material management operations.

Contract Specifications

The order involves comprehensive scope of supply and services focused on material handling and transit operations for bulk commodity material. The domestic nature of the contract aligns with the company's operational capabilities and market presence in India.

Regulatory Compliance

The company has confirmed that this order does not constitute a related party transaction and has been executed at arm's length. Additionally, the promoter, promoter group, or group companies have no interest in the entity that awarded the contract, ensuring complete transparency in the business arrangement.

Strategic Significance

This substantial order reinforces Refex Industries' position in the material handling and logistics sector. The 3-year contract duration provides revenue visibility and demonstrates the client's confidence in the company's operational capabilities and service delivery standards.

Refex Industries Limited has submitted comprehensive updated disclosures to stock exchanges regarding share encumbrance by its promoter company, addressing regulatory compliance requirements under SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The submission, dated February 02, 2026, responds to discrepancies identified by BSE Limited in the company's original disclosure.

Regulatory Compliance Update

The updated disclosure addresses a specific observation from BSE Limited's Listing Compliance and Operations department regarding incomplete entity details in the original submission dated January 20, 2026. The exchange had noted that only the trustee name was mentioned without providing the lender name under details of entities in whose favor shares are being encumbered.

Share Encumbrance Details

The disclosure reveals that Refex Holding Private Limited created an additional pledge of 45,19,856 shares on January 16, 2026, representing 3.30% of the total share capital. This addition was made pursuant to a Pledge Agreement dated July 30, 2025.

Transaction Structure and Entities

The encumbrance serves as collateral security for financing availed by Refex Life Sciences Private Limited, a subsidiary company, through debenture issuance. The debenture holder is Touchstone Trust Scheme VI, acting through its Investment Manager Touchstone Capital Limited, under a Debenture Trust Deed entered into on July 30, 2025.

Financial Valuation and Security Cover

The disclosure provides detailed valuation of the pledged shares and the underlying debt amount. The value of additional shares being pledged amounts to approximately INR 108,47,65,432 based on current average 5-day VWAP prices on NSE.

Debenture Instrument Details

The underlying debt instruments consist of secured, unrated, unlisted optionally convertible and non-convertible debentures issued by Refex Life Sciences Private Limited. Each debenture carries a face value of INR 10 lakhs, and the instruments are not listed on any stock exchange.

The arrangement allows for additional persons to become debenture holders from time to time and have security over the pledged shares in terms of the Common Security Trustee Agreement dated July 30, 2025. This structure provides flexibility for further debenture issuances while maintaining the security framework.

The company has requested stock exchanges to take the updated information on record and disseminate the same on their websites in compliance with applicable regulations. The disclosure ensures full transparency regarding the encumbrance arrangement and addresses all regulatory requirements specified under SEBI takeover regulations.