Refex Industries Limited has informed the Exchange regarding a press release dated September 22, 2025, titled - Refex Industries Board approves Composite Scheme of Arrangement to Unlock Green Mobility Potential".
REFEX · price
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On the reaction day the stock moved 15.9 pts more than Nifty Microcap 250 and 15.1 pts more than its Waste Management peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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The Board of Refex Industries has approved a composite scheme to restructure its Green Mobility business. In the first step, the wholly owned subsidiary Refex Green Mobility Limited will be merged into Refex Industries. In the second step, the Green Mobility business will be demerged into a newly incorporated company called Refex Mobility Limited (RML), which will be independently listed on BSE and NSE. Shareholders of Refex Industries will receive shares in RML in the same proportion as their existing shareholding, creating a mirror shareholding structure. Post-restructuring, Refex Industries will focus on Ash & Coal handling, while RML will focus on green mobility and clean-fuelled vehicles. The scheme still requires approvals from shareholders, creditors, SEBI, NCLT, and stock exchanges.
Existing shareholders will end up holding shares in two listed entities instead of one, which could unlock separate value for each business but also introduces execution and approval risk. The stock may see short-term volatility as the market digests the restructuring plan.