Hello Moven
What you are describing is called Multi-VRF CE according to Cisco. It allows a single CE device to terminate multiple VPNs enabling multiple customers to share the same physical link between the PE and CE, or a single customer to use multiple VPNs.
You can find out more information about this feature and how to configure it at the following Cisco documentation:
As can be seen from this documentation, within the same CE, you configure two different VRFs each of which has its own route distinguisher.
I hope this has been helpful!
Laz