Joint Venture16 Mar 2026, 06:44 pm
Thermax Ltd Subsidiary, First Energy 8 Private Limited, Signs Share Subscription Agreement with India Cements Limited
AI Summary
Thermax Limited has informed the exchanges about the signing of a Share Subscription and Shareholders Agreement (SSHA) by its subsidiary, First Energy 8 Private Limited (FESPL), with India Cements Limited, a captive user. This agreement was signed on March 16, 2026, at 3:43 p.m. IST. As per the SSHA, the Captive User has agreed to subscribe to 1,32,96,350 Equity Shares of face value Rs. 10 each at a premium of Rs. 4.12 each of FESPL. The revised shareholding structure of FESPL is as follows: First Energy Private Limited (subsidiary of Thermax Limited) holds 62.15%, MRF Limited holds 23.22%, and the Captive User holds 14.63% of the total share capital of the FESPL.
Key Highlights
- Thermax Limited's subsidiary, First Energy 8 Private Limited (FESPL), signs a Share Subscription and Shareholders Agreement (SSHA) with India Cements Limited.
- The Captive User has agreed to subscribe to 1,32,96,350 Equity Shares of FESPL at a premium of Rs. 4.12 each.
- The revised shareholding structure of FESPL includes First Energy Private Limited (subsidiary of Thermax Limited) holding 62.15%, MRF Limited holding 23.22%, and the Captive User holding 14.63% of the total share capital of the FESPL.