Thermax Ltd to Acquire 23.03% Stake in Thermax Bioenergy Solutions for Rs. 16,71,00,000

Thermax Ltd has signed a share purchase agreement with Everenviro Resource Management Private Limited to acquire a 23.03% equity stake in Thermax Bioenergy Solutions Private Limited (TBSPL), a subsidiary of the Company. Upon completion of the transaction, TBSPL will become a wholly owned subsidiary of Thermax Ltd. The total paid-up share capital of TBSPL is Rs. 38,00,00,000 divided into 3,80,00,000 shares of Rs. 10/- each. The acquisition is a related party transaction, done on an arm’s length basis and does not involve any interest from the promoter/ promoter group/ group companies. TBSPL operates in the Technology, Engineering, Procurement & Construction for Bio-CNG Projects industry. The acquisition is expected to be completed within 30 days. The cost of acquisition is Rs. 16,71,00,000 for 87,50,000 equity shares, which amounts to 23.03% of the shareholding. TBSPL was incorporated on August 12, 2022, and its last three years' turnover is as follows: Rs. 569.80 Crs (31 Mar 2025), Rs. 264.59 Crs (31 Mar 2024), and Rs. 48.04 Crs (31 Mar 2023).