Refex Industries Limited — Capital/Financing Update 2024

Nov 7, 2024

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November 07, 2024

BSE Limited Phiroze Jeejeebhoy Towers Dalal Street, Fort Mumbai - 400001 Scrip Code: 532884	Natonal Stock Exchange of India Limited Exchange Plaza, Plot No. C-1 G Block, Bandra-Kurla Complex, Bandra(E), Mumbai -400051 Symbol: REFEX

• RE: Disclosure under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("SEBI Listing Regulations") read with SEBI Circulars bearing reference nos. SEBI/HO/CFD/PoD2/CIR/P/2023/120 dated July 11, 2023, and SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023 (“SEBI Circulars”).

Subject: Allotment of 81,77,068 equity shares and 1,11,70,000 warrants, on preferential basis, for cash consideration, at an issue price of ₹468/- per share, for an aggregate issue size of ₹905.44 Crore.

Dear Sir/ Ma’am,

This is further to our earlier announcements dated October 03, 2024 (w.r.t. Outcome of Board Meeting for preferential issue), October 04, 2024 (w.r.t. Notice of Extra-ordinary General Meeting) and October 26, 2024 (w.r.t. outcome of the Extraordinary General Meeting).

We are pleased to inform all our stakeholders that the Banking & Authorization Committee of the Board of the Company, at its meeting held today (i.e.) on November 07, 2024 , inter alia, has considered and approved the allotment of:

i. 81,77,068 equity shares; and

ii. 1,11,70,000 warrants;

of face value of ₹ 2/- each, at an issue price of ₹468/- each , for cash consideration, by way of preferential issue, for an aggregate issue size of ₹905,44,27,824/-, to certain identified persons belonging non-promoter group and promoter group of the Company, in accordance with Chapter V of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 (‘ SEBI ICDR Regulations’ ) and the provisions of the Companies Act, 2013 read with rules made there under.

The equity shares so allotted, shall rank pari-passu with the existing equity shares of the Company in all respects.

Consequently, the paid-up share capital of the Company stands increased from ₹24,14,21,350/- to ₹25,77,75,486/-.

The equity shares allotted to the investors shall be locked-in for a period as specified under Chapter V of the SEBI ICDR Regulations, as applicable.

The requisite details as required in terms of SEBI Circular SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023, are provided as ‘ Annexure-A’ .

We request to take the above information on your records.

Thanking you.

Yours faithfully,

For & on behalf of Refex Industries Limited

ANKIT Digitally signed by ANKIT PODDA PODDAR Date: R 2024.11.07 18:57:43 +05'30' Ankit Poddar Company Secretary & Compliance Officer ACS-25443

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Annexure – A

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Disclosure pursuant to Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015 and SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023:

S. No.	Partculars	Details
a.	Type of securites proposed to be issued (viz. equity shares, convertbles etc.)	Equity Shares of ₹2/- each; Warrants, fully convertble into equity shares of face value of ₹2/- each
b.	Type of issuance (further public ofering, rights issue, depository receipts (ADR/GDR), qualifed insttutons placement, preferental allotment etc.)	Preferental allotment
c.	Total number of securites proposed to be issued or the total amount for which the securites will be issued (approximately)	i. 81,77,068 equity shares (aggregatng to ₹3,82,68,67,824/-); and ii. 1,11,70,000 warrants (aggregatng to ₹5,22,75,60,000/-); thereby, makingtotal issue sizeof₹905,44,27,824/- 25% of the issue price (i.e., 25% of ₹468= ₹117/-) has been received as upfront payment, aggregatng to ₹1,30,68,90,000/-, in accordance with Regulaton 169(2) of the SEBI ICDR Regulatons.
d.	In case of preferental issue, following additonal details to the stock exchange(s):
i.	Names of the Investors	Total 63 investors(53 for equity shares and 10 for warrants), as per list enclosed as ‘Annexure-B’.
ii.	post allotment of securites - outcome of the subscripton, issue price / alloted price (in case of convertbles), number of investors	Subscripton: ₹513,37,57,824/-(remaining ₹392,06,70,000/-, being balance 75% consideraton of warrants to be received upon exercise of conversion within 18 months of allotment) Issue Price: ₹468/- Alloted Price: ₹468/- No. of investors: 63
iii.	in case of convertbles - intmaton on conversion of securites or on lapse of the tenure of the instrument	Not applicable at this stage. However, the same will be intmated upon receipt of request for conversion of warrants.
iv.	Any cancellaton or terminaton of proposal for issuance of securites including reasons thereof	Not Applicable

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Annexure – B

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Allotment of equity shares to ‘non-promoter’ category on a preferential basis:

S. No.	Name of Allottees	Status of Allottees	Number of Equity Shares allotted	Consideration (₹)
1	Medcode Services Private Limited	BodyCorporate	10,68,376	49,99,99,968
2	Riddhi Siddhi Gluco Biols Limited	BodyCorporate	5,34,188	24,99,99,984
3	Gaurav Rathod	Individual	5,00,000	23,40,00,000
4	Bullseye Entertainments Private Limited	BodyCorporate	4,27,350	19,99,99,800
5	Yashaswi Dugar	Individual	3,20,512	14,99,99,616
6	KRG Polychem Private Limited	BodyCorporate	3,20,512	14,99,99,616
7	Cello Capital Private Limited	BodyCorporate	2,50,000	11,70,00,000
8	Suresh Mutha	Individual	2,13,675	9,99,99,900
9	Vineet Arya	Individual	2,13,675	9,99,99,900
10	Kumarpal Chopra	Individual	2,13,675	9,99,99,900
11	Pramod Bhandari	Individual	2,13,675	9,99,99,900
12	Darshak Shah	Individual	2,13,675	9,99,99,900
13	Madhu Silica Private Limited	BodyCorporate	2,13,675	9,99,99,900
14	KLJ Resources Limited	BodyCorporate	2,13,675	9,99,99,900
15	Balasubramaniam Sriram	Individual	1,85,000	8,65,80,000
16	Laksh Vinod Sanghvi	Individual	1,70,940	7,99,99,920
17	Vidit Mahendrakumar Sanghvi	Individual	1,70,940	7,99,99,920
18	Stheertha Ventures LLP	BodyCorporate	1,06,837	4,99,99,716
19	Riddisiddhi Bullions Limited	BodyCorporate	1,06,837	4,99,99,716
20	Drytech Processes(India)P Ltd.	BodyCorporate	1,06,837	4,99,99,716
21	Parshva Texchem(India)Private Limited	BodyCorporate	1,06,837	4,99,99,716
22	HET Graphics (Acting through its partners, namely, Mr. Asit Hasmukhlal Shah and Ms. Chetana Asitbhai Shah)	Partnership Firm	1,06,837	4,99,99,716
23	Yog Divakar & Sons [Acting through its partners, namely, 1) Uttamchand Kesharimal Jain, 2) Chanchal Uttamchand Jain, 3) Ashokkumar Keshrimal Jain, 4) Meena Ashok Jain, 5) Pravin Keshrimal Jain, 6) Bharti Pravin Jain]	Partnership Firm	1,06,837	4,99,99,716
24	MalayAshokbhai Shah	Individual	1,06,837	4,99,99,716
25	Binod Kumar Barnwal	Individual	1,06,837	4,99,99,716
26	SunnyJain	Individual	1,06,837	4,99,99,716
27	Suman Voora	Individual	1,06,837	4,99,99,716
28	Urmila Chandan	Individual	1,06,837	4,99,99,716
29	Manju Jain	Individual	1,06,837	4,99,99,716
30	Kunal Shah	Individual	1,06,837	4,99,99,716
31	P Naman Chordia	Individual	1,06,837	4,99,99,716
32	Seema Bhandari	Individual	1,06,837	4,99,99,716
33	Shri Shakthi Girish	Individual	1,06,837	4,99,99,716
34	Rajanbhai Dapki	Individual	1,06,837	4,99,99,716
35	Taruna Hinduja	Individual	1,06,837	4,99,99,716
36	Manish Shantilal Mehta	Individual	1,06,837	4,99,99,716
37	Inter Globe Finance Limited	BodyCorporate	65,000	3,04,20,000
38	Alternate Strategies LLP	BodyCorporate	64,100	2,99,98,800
39	Deepa Asit Shah	Individual	53,418	2,49,99,624
40	Samyak Asit Shah	Individual	53,418	2,49,99,624
41	Aaryan JaxayShah	Individual	53,418	2,49,99,624
42	Jisal JaxayShah	Individual	53,418	2,49,99,624
43	BajrangBothra	Individual	35,683	1,66,99,644
44	Suman Bothra	Individual	35,683	1,66,99,644
45	Vishal Kiritbhai Shah	HUF	35,683	1,66,99,644
46	Kiritkumar Kasturchand Shah	HUF	35,683	1,66,99,644
47	Pratik Kiritbhai Shah	HUF	35,470	1,65,99,960
48	Rajjat Kumar Bothra	Individual	35,470	1,65,99,960
49	Vidit Jain	Individual	35,000	1,63,80,000
50	Nipa Viren Doshi	Individual	32,051	1,49,99,868

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51	Binita Hitesh Doshi	Individual	26,709	1,24,99,812
52	PankajChimmanlalji Doshi	Individual	26,709	1,24,99,812
53	Bindiya Doshi	Individual	26,709	1,24,99,812
	Total		81,77,068	3,82,68,67,824

Allotment of warrants to ‘promoter’ and ‘non-promoter’ category on a preferential basis:

S. No.	Name of the Allottees	Status of Allottees	Number of Warrants allotted	**Consideration (₹) ***
Promoter & Promoter Group:
1.	Ugamdevi Jain	Individual	26,50,000	1,24,02,00,000
2.	Dimple Jain	Individual	26,50,000	1,24,02,00,000
3.	Yash Jain	Individual	26,45,000	1,23,78,60,000
	Sub-Total (A)		79,45,000	371,82,60,000
Director & KMP
4.	Dinesh Kumar Agarwal	Individual	5,50,000	25,74,00,000
	Sub-Total (B)		5,50,000	25,74,00,000
Non-Promoter:
5.	Monarch Infraparks Private Limited	Body Corporate	10,68,376	49,99,99,968
6.	Yantra EsolarIndia Private Limited	Body Corporate	5,12,820	23,99,99,760
7.	Anushree Shah	Individual	3,20,512	14,99,99,616
8.	Vrushali Shah	Individual	3,20,512	14,99,99,616
9.	K&K Ventures	Partnership Firm	2,39,105	11,19,01,140
10.	Shah Bela	Individual	2,13,675	9,99,99,900
	Sub-Total (C)		26,75,000	125,19,00,000
	Grand Total		1,11,70,000	522,75,60,000

* 25% of the consideration of the warrants is received at the time of subscription and the balance 25% shall be payable upon exercise of conversion of the warrants into equity shares within 18 months.

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