Mumbai, Sept. 23 -- 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 company's 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 Refex's growth journey," adding that the dedicated listing of RML would sharpen focus, unlock value for shareholders, and reaffirm th...