Refex Industries proposes to raise Rs 927.81 Cr to accelerate sustainable growth

Mumbai, Oct 04: Refex Industries Limited (Refex), a leader in diversified sectors such as ash & coal handling and electric vehicle (EV) mobility, proposes to raise funds to the tune of ₹927.81 Crore, by way of preferential issue of equity and convertible warrants, to certain investors, under ‘promoter’ and ‘non-promoter’ category.

This significant fund-raising initiative underscores Refex’s commitment to sustainability & innovation across its business verticals.

The funds raised will be strategically utilized for investments in subsidiary companies, capital expenditures, working capital needs, repayment of existing loans, and general corporate purposes.

This funding is prosed at an opportune time as Refex continues to innovate in logistics for ash management, addressing environmental challenges associated with thermal power plant operations. Refex has also made significant strides in the passenger mobility sector through its subsidiary, engaged in electric vehicle services.

“Our focus on sustainability drives our efforts in both ash handling logistics and EV mobility,” stated Anil Jain, Managing Director of Refex.

“This funding empowers us to build innovative solutions with a strong emphasis on environmental, social, and governance (ESG) principles. The support from our investors and leadership team showcases their confidence in our mission to create a cleaner, greener future”, he further added.