Thermax Limited — JV/Acquisition, 20-08-2025: Acquisition

Thermax Limited has completed the acquisition of the remaining 23.03% stake in Thermax Bioenergy Solutions Private Limited (TBSPL), making it a wholly owned subsidiary. This strategic move solidifies Thermax's full control over TBSPL's operations and financial results. By integrating TBSPL completely, Thermax aims to streamline its bioenergy initiatives, enhance operational synergies, and accelerate growth within this crucial and expanding sector. This consolidation strengthens Thermax's position in the renewable energy domain.