Disclosure under Regulation 30 and other applicable regulations of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, - Receipt of Observation Letters from the Stock Exchanges for the proposed Composite Scheme
REFEX · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Refex Industries has received 'No adverse observation / No objection' letters from BSE and NSE on March 16, 2026 for its proposed Composite Scheme involving three group companies. Under the scheme, Refex Green Mobility Limited (Transferor) will merge into Refex Industries, while part of Refex Industries' business (the Demerged Undertaking) will be demerged into Refex Mobility Limited (Resulting Company). The scheme, first approved by the Board on September 22, 2025, involves related entities within the Refex Group. The stock exchange observation letters are valid for six months, within which the company must file the scheme with the NCLT. Refex Mobility Limited's shares are proposed to be listed on the exchanges as part of this restructuring, subject to SEBI and exchange approvals.
This is a positive procedural milestone that clears a key regulatory hurdle and brings the group restructuring one step closer to NCLT filing. Shareholders should expect further steps including NCLT hearing, shareholder and creditor voting, and ultimately the listing of Refex Mobility Limited, though the scheme still requires multiple approvals before becoming effective.