Refex Industries Limited has expanded into the mobility sector with the incorporation of a new wholly-owned subsidiary, Refex Mobility Limited (RML). The move marks a strategic diversification for the company, which has traditionally operated in its core industrial businesses.
Subsidiary Incorporation
RML was incorporated on September 12, 2025, with approval from the Ministry of Corporate Affairs. The subsidiary has an initial subscribed capital of ₹1,00,000, divided into 10,000 fully paid-up equity shares of ₹10 each. Refex Industries holds 100% ownership of the new entity.
Focus Areas of RML
According to regulatory filings, Refex Mobility Limited will operate in the urban transportation and sustainable mobility sector. Its planned business objectives include:
- Passenger and logistics services
- Sales, leasing, and servicing of electric and other vehicles
- Development of sustainable transportation infrastructure
- Creation of software solutions tailored to mobility needs
The subsidiary will also explore beneficial contracts in India and abroad, including equipment leasing and sub-leasing arrangements.
Strategic Significance
By entering the mobility space, Refex Industries is positioning itself to tap into opportunities in the rapidly evolving electric vehicle (EV) ecosystem and urban transport infrastructure. The company emphasized that this diversification aligns with its long-term vision of contributing to sustainable cities.
Management’s View
Commenting on the development, Ankit Poddar, Company Secretary and Compliance Officer of Refex Industries, said:
“The incorporation of Refex Mobility Limited aligns with our strategy to expand into the growing sustainable transportation sector. We believe this move will position us to capitalize on the opportunities in urban mobility and contribute to more sustainable cities.”
Current Status
RML is at a nascent stage and has not yet commenced operations. As such, it currently has no turnover, and the financial impact of the move remains minimal in the short term. However, stakeholders see long-term potential as the subsidiary develops its capabilities in a competitive and fast-growing market.
Summary
- Refex Industries incorporated a new subsidiary, Refex Mobility Limited (RML), on September 12, 2025.
- RML will focus on electric vehicles, passenger services, logistics solutions, and mobility software.
- The subsidiary was established with ₹1,00,000 capital, fully owned by Refex Industries.
- While operations have not yet begun, the move represents a strategic diversification into sustainable urban mobility.
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