Refex Industries plans to raise Rs 927.81 crore

Mumbai: Chennai-based Refex Industries plans to raise ₹927.81 crore through the preferential issue of equity and convertible warrants, the company said on Thursday. Of this, around ₹530 crore will come from high net-worth individuals while the promoter group will infuse another ₹372 crore. These funds will be used for investments in subsidiary companies, capital expenditures, working capital needs, repayment of existing loans, and general corporate purposes, the company said.

Refex, which is in the business of ash and coal handling and electric vehicle mobility, also has a presence in refrigerant gases, and power trading.