Refex Industries stock jumps over 4% on fundraise plan of Rs 927 cr
Source: Business Standard
Shares of Refex Industries surged as much as 4.59 per cent at Rs 564 a piece in Friday’s intraday trade on BSE.
Refex Industries share price today jumped after the company announced that it plans to raise Rs 927.81 crore through a preferential issue of equity and convertible warrants to investors.
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The funds, comprising Rs 530 crore from high-net-worth individuals and Rs 372 crore from the promoter group, will be used for subsidiary investments, capital expenditures, working capital, and loan repayments, the company said in an exchange filing on Thursday.
Dinesh Kumar Agarwal, Group CEO, is personally investing around Rs 26 crore in the preferential issue
“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,” said Anil Jain, managing director of Refex in a press statement.
Share price history
Refex Industries share price has gained 165.40 per cent in the last three months, while soaring over 335 per cent in the last one year. In comparison BSE Sensex has risen 3 per cent in the last three months and 36.3 per cent in a year.
The company has a total market capitalization of Rs 6,633.05 crore. Its shares are trading at price to earnings valuation of 56.64 times, while having an earning per share of Rs 9.52.
At 10:13 AM, the stock price of the company rose 1.90 per cent to Rs 549.50 a piece on the BSE. By comparison, the BSE’s Sensex was up mildly by 0.01 per cent to 82,506 level.
Financial show in Q1FY25
Refex Industries reported a 55.44 per cent increase in revenue year-on-year, reaching Rs 597.21 crore in Q1FY25, with a quarterly growth of 70.47 per cent. Net profit also rose by 41.18 per cent compared to the same period last year, totaling Rs 30.03 crore. However, on a quarterly basis, net profits experienced a decline of 12.37 per cent.
Refex operates across multiple sectors, including logistics for ash and coal handling, EV mobility, refrigerant gases, and power trading.
First Published: Oct 04 2024 | 10:19 AM IST
