Thermax Limited — JV/Acquisition, 21-11-2025: Acquisition

Thermax Limited has infused Rs. 23.50 Cr into its wholly-owned subsidiary, Thermax Chemical Solutions Private Limited (TCSPL), through a rights issue of 2,35,00,000 equity shares at Rs. 10 each. These funds are earmarked for further investment in Fortmax Chemicals India Private Limited, an existing subsidiary of TCSPL. This move signals Thermax's strategy to strengthen its chemical solutions portfolio and bolster the operational capabilities of Fortmax, potentially driving future growth and market penetration in this segment.