Thermax Ltd Completes Acquisition of 51% Stake in Exactspace Technologies

Thermax Ltd has informed the exchanges about the completion of its acquisition of a 51% stake in Exactspace Technologies Private Limited. This acquisition is a follow-up to the Share Subscription and Share Purchase Agreement and a Shareholders’ Agreement entered into with Exactspace and its Promoters and existing investors on February 27, 2026, for the acquisition of a 35.83% stake (on a fully diluted basis) in Exactspace. The transaction was completed on April 9, 2026, at 5.43 p.m. (IST), resulting in Exactspace becoming a subsidiary of Thermax Ltd.