Hello Harish,

you can make a shared CE a multi VRF CE.

A multi VRF has a subset of features of a PE node: it has VRFs but it misses MPLS for forwarding.

The link between the PE and the multi VRF CE can be an 802.1Q trunk where each subinterface is associated to a different VRFs.

So you get segregation between the different VRFs but you need to build a routing adjacency on each pe-ce vlan subinterface.

You can use feature navigator to verify if your CE node supports multi VRF CE also called VRF lite.

Hope to help

Giuseppe