Thermax Limited — JV/Acquisition, 09-04-2026: Acquisition

Thermax has completed the acquisition of Exactspace Technologies, increasing its stake to a controlling 51% on a fully diluted basis. This strategic move makes Exactspace a direct subsidiary, significantly impacting Thermax's operational structure. While the deal valuation isn't disclosed in this announcement, securing a majority holding in Exactspace is a key development. This likely aims to enhance Thermax's product portfolio or technology capabilities, expanding its market footprint. Investors should closely monitor the integration and future contributions of this new subsidiary.