Refex Inds soars as board okays green mobility demerger

Refex Industries surged 16.14% to Rs 392.60 after the company's board approved a composite scheme of arrangement aimed at unlocking value from its green mobility business.

Under the restructuring plan, Refex Green Mobility, a wholly owned subsidiary, will be merged into Refex Industries, followed by the demerger of the Green Mobility Business unit into a newly incorporated entity, Refex Mobility Limited (RML). RML will then be independently listed on both BSE and NSE, paving the way for two specialised platforms one focused on the companys established strengths in ash and coal handling, and the other dedicated to clean-fuelled sustainable transport solutions.

Anil Jain, chairman and managing director of Refex Industries, called the move a "milestone in Refexs growth journey," adding that the dedicated listing of RML would sharpen focus, unlock value for shareholders, and reaffirm the companys commitment to clean, technology-driven corporate transport.

The proposed scheme is subject to approvals from shareholders, creditors, stock exchanges, SEBI, NCLT, and other regulators. Upon completion, shareholders of Refex Industries will receive equity shares in Refex Mobility in the same proportion as their holdings in Refex Industries, creating a mirror shareholding structure.

Chennai-based Refex Industries has built a portfolio spanning ash and coal handling, wind energy, and green mobility solutions.

On a consolidated basis, net profit of Refex Industries declined 29.50% to Rs 21.17 crore while net sales declined 35.15% to Rs 383.25 crore in Q1 June 2025 over Q1 June 2024.

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