Thermax Limited — JV/Acquisition, 13-08-2025: Acquisition

Thermax Ltd. is strengthening its clean energy play by acquiring the remaining 23.03% stake in its subsidiary, Thermax Bioenergy Solutions Private Limited (TBSPL), for Rs 16.71 Cr. This move makes TBSPL, which specializes in Technology, Engineering, Procurement & Construction for Bio-CNG projects, a wholly-owned subsidiary. This strategic integration enhances Thermax's control over a rapidly growing segment, as TBSPL's turnover surged from Rs 48.04 Cr in FY23 to Rs 569.80 Cr in FY25, indicating strong future contributions.