Refex Industries Limited, a prominent player in sectors like ash and coal management as well as electric vehicle (EV) mobility, is looking to raise ₹927.81 crore through a preferential issue of equity and convertible warrants. This fundraising initiative will involve both promoter and non-promoter investors.
The total amount being raised is ₹927.81 crore, which includes approximately ₹530 crore from high-net-worth individuals (HNIs) and family offices. The promoter group aims to contribute around ₹372 crore, with Dinesh Kumar Agarwal, the Group CEO, personally investing ₹26 crore, demonstrating strong leadership commitment.
Monarch Networth Capital Limited (MNCL) has served as the sole banker and advisor for this fundraising initiative. The capital raised will be strategically directed towards investments in subsidiary companies, capital expenditures, working capital requirements, repayment of existing loans, and general corporate purposes.
This fundraising comes at a crucial time as Refex strives to innovate in logistics for ash management, tackling the environmental issues linked to thermal power plant operations. Additionally, the company has made considerable progress in the passenger mobility sector through its subsidiary focused on electric vehicle services.
Anil Jain, Managing Director of Refex, remarked, “Our commitment to sustainability drives our initiatives in both ash handling and EV mobility. This funding will enable us to develop innovative solutions while prioritizing environmental, social, and governance (ESG) principles. The backing from our investors and leadership team underscores their trust in our goal of fostering a cleaner and greener future.”
Refex Industries Limited is a leading player in diverse sectors, specializing in ash and coal handling as well as electric vehicle (EV) mobility solutions. With a commitment to sustainability, the company focuses on innovative logistics for ash management, addressing the environmental challenges posed by thermal power plants.
Refex has also made significant advancements in the passenger mobility segment through its subsidiaries, providing electric vehicle services that contribute to a greener future. By emphasizing environmental, social, and governance (ESG) principles, Refex Industries aims to create impactful solutions that not only enhance operational efficiency but also promote sustainable development. With a strong leadership team and a clear vision, the company is poised for continued growth and innovation in both its traditional and emerging business areas.
