Thermax Limited — JV/Acquisition, 23-07-2025: Acquisition

Thermax has infused Rs. 102 Cr into its wholly-owned subsidiary, First Energy Private Limited (FEPL), by subscribing to 10.2 crore equity shares at Rs. 10 each. This capital infusion is earmarked for FEPL to undertake new renewable energy projects via its Special Purpose Vehicles. FEPL specializes in sustainable energy solutions, including solar, wind, and battery storage for commercial and industrial clients. This strategic investment strengthens Thermax's commitment to expanding its green energy capabilities and capitalizing on growth opportunities in the renewable sector.