Refex Industries restructures green mobility business; RML to get independent listing
The Board of Directors of Refex Industries Limited (RIL) has approved a scheme to restructure its green mobility business.
As per the scheme, Refex Green Mobility Limited (‘RGML’), a wholly owned subsidiary, will be merged into RIL, followed by the demerger of the Green Mobility Business unit into a newly incorporated entity, Refex Mobility Limited (‘RML’).
RML to be independently listed on BSE & NSE
RML is proposed to be independently listed on BSE and NSE, creating two focused platforms where RIL will consolidate its core strengths across Ash & Coal handling, and RML will be dedicated to sustainable mobility solutions using clean fuelled vehicles.
“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 & RML, and reaffirm our commitment to clean, technology-driven urban corporate transport,” said Anil Jain, Chairman and Managing Director of RIL.
“Upon completion of the scheme, the shareholders of RIL will receive equity shares in RML in the same proportion as their existing shareholding in RIL as on the record date,” the company said in an exchange filing.
Refex Industries closed at ₹339.00 on Monday, down 2.49 per cent from the previous trading day’s close.
Published on September 22, 2025
