The Board of Directors of Refex Industries Limited (RIL) has approved a plan to restructure its green mobility operations. According to the approved scheme, Refex Green Mobility Limited (RGML), a wholly-owned subsidiary, will merge into RIL. Subsequently, the Green Mobility Business unit will be spun off into a newly established entity, Refex Mobility Limited (RML).
RML is set to be listed independently on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). This move is expected to create distinct platforms, allowing RIL to consolidate its primary operations in Ash and Coal handling, while RML will focus solely on sustainable mobility solutions using clean-fueled vehicles.
Anil Jain, Chairman and Managing Director of RIL, commented, “The Board’s approval of this restructuring marks a milestone in Refex’s growth journey. By creating a dedicated listed platform for our Green Mobility Business, we will sharpen focus, unlock value for shareholders across both RIL and RML, and reaffirm our commitment to clean, technology-driven urban corporate transport.”
Upon completion of the restructuring, shareholders of RIL will receive equity shares in RML proportional to their existing holdings in RIL as of the record date, the company stated in an exchange filing.
On the trading front, Refex Industries’ shares closed at ₹339.00 on Monday, down by 2.49 percent from the previous trading day.
Published on September 22, 2025.
