Refex Industries Surges 15.47% as Board Clears Green Mobility Demerger, Shareholders to Gain Mirror Holding in New Entity

Chennai, September 23, 2025: Refex Industries Limited’s share price saw strong investor demand today, on September 23, after the company announced that its board has approved a composite scheme of arrangement to unlock its green mobility business. At the end of today’s trading session, the shares closed 15.47%, or 52.30 points higher at ₹390.35. The shares made an intraday high of ₹404.40 and a low of ₹343.55. The traded volume stood at 1.75 crore shares, with the company’s market cap at ₹4,370.

Refex Industries Limited is an Indian company that specialises in the refilling and marketing of refrigerants, including Hydrofluorocarbon (HFC) refrigerants. The company was established on 11th May 1994 and has its headquarters in Chennai, Tamil Nadu, India. The shares of the company are listed on NSE with the ticker symbol REFEX and on BSE with the code 532884.

Board Clearing Green Mobility Demerger

The significant rally comes after the company announced that its board has approved a composite scheme of arrangement to unlock its green mobility business. Under the arrangement, Refex Green Mobility Limited (RGML), a wholly owned subsidiary, will be merged into Refex Industries Limited. This will be followed by the demerger of its Green Mobility Business into Refex Mobility Limited (RML).

Afterwards, the shares of RML will be independently listed on NSE and BSE. The shareholders of Refex Industries will receive shares in RML in the same proportion as their existing holdings in Refex. Post-demerger, Refex Industries will focus on Ash & Coal handling, while RML will focus on clean-fuelled, sustainable mobility solutions.

Significant Milestone for the Company

Anil Jain, Chairman & MD, said: “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 Refex and Refex Mobility, and reaffirm our commitment to clean, technology-driven urban corporate transport.”

REF: https://nsearchives.nseindia.com/corporate/REFEX2002_22092025184312_RIL_Media_Release_STX_sd.pdf

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