Refex Renewables & Infrastructure's board has approved the re-classification of Avyan Pashupathy Capital Advisors Private Limited from 'Promoter' to 'Public' category.

This follows Avyan Pashupathy transferring its entire 13,91,869 equity shares, representing 30.94% of the company's capital, to another promoter, Refex Holding Private Limited.

With zero shareholding now, Avyan Pashupathy will move out of the promoter group.

The re-classification is pending a 'no-objection' from BSE Limited.

This streamlines the company's promoter shareholding structure without affecting the overall promoter holding percentage.