Thermax Limited — JV/Acquisition, 17-10-2025: Amalgamation/Merger

Thermax Ltd has approved the merger by absorption of its wholly-owned subsidiary, Buildtech Products India Private Limited. This strategic move aims for business consolidation, enhanced synergies, efficiency, and simplification of the group structure, along with administrative and compliance cost savings. As Buildtech is a wholly-owned subsidiary, no new shares will be issued by Thermax, and Buildtech's shares held by Thermax will be cancelled. Consequently, there will be no change in Thermax's shareholding pattern. Buildtech reported a net worth of Rs. 20.9 Cr and total income of Rs. 28.6 Cr as of March 31, 2025. The scheme awaits NCLT and other necessary approvals, with an appointed date of April 1, 2025.