Refex Industries Limited announced a private placement to issue 5,000,000 common shares at an issue price of INR 125 per share for the gross proceeds of INR 625,000,000 and 12,575,000 warrants at an issue price of INR 31.25 for the gross proceeds of INR 392,968,750; aggregate gross proceeds of INR 1,017,968,750 on March 2, 2024. The transaction will include participation from new investor Sherisha Technologies Private Limited. The transaction has been approved by the shareholders of the company and subject to the approval of Shareholders in the upcoming General Meeting which is to be held on March 27, 2024 and sanctions/approvals from the other regulatory/ governmental authorities, as may be required.