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

This follows APCAPL's transfer of its entire holding of 13.92 lakh equity shares, representing 30.94% of the company's paid-up capital, to Refex Holding Private Limited, another promoter.

With APCAPL now holding no shares, the Board found the re-classification compliant and will seek a no-objection from BSE.

This formal change in shareholder classification ensures the company continues to meet public shareholding norms.