The Board of Directors of Refex Industries Limited (RIL) has approved a composite scheme of amalgamation and arrangement aimed at reorganizing its Green Mobility business to enhance strategic focus and unlock value for shareholders. Under the approved plan, Refex Green Mobility Limited (RGML), currently a wholly owned subsidiary of RIL, will first be merged into the parent company.
Following this, the Green Mobility division will be demerged into a newly formed entity, Refex Mobility Limited (RML). RML is set to be independently listed on the BSE and NSE, establishing two focused business entities: RIL will remain dedicated to its core operations in ash and coal handling, while RML will concentrate on clean fuel-based transportation and sustainable mobility solutions.
“This strategic move marks an important step in our ongoing growth journey,” said Anil Jain, Chairman and Managing Director of Refex Industries Limited. “By carving out our Green Mobility operations into a separate listed entity, we can sharpen our operational focus, create distinct value streams, and further strengthen our commitment to clean and technology-led urban transport.”
The proposed scheme is subject to regulatory and stakeholder approvals, including from shareholders, creditors, stock exchanges, SEBI, NCLT, and other relevant authorities. Once the restructuring is completed, RIL shareholders will be allotted equity shares in RML in the same proportion as their current shareholding in RIL on the record date—establishing a mirror shareholding structure across both companies.
Founded in 2002 and based in Chennai, Refex Industries Limited is a diversified company focused on sustainability-oriented solutions. With more than two decades of experience, its portfolio includes Ash and Coal Handling, Green Mobility initiatives, and Wind Energy. Through innovation and a purpose-driven approach, Refex continues to support India’s transition to a cleaner, more sustainable future.
