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Thermax Limited. ( (IN:THERMAX) ) has issued an announcement.
Thermax Limited has announced that its wholly owned subsidiary, First Energy Private Limited, will unwind its proposed acquisition of Onix-Two Enersol Private Limited after the transaction’s closing conditions were not fulfilled within the agreed and extended timelines. Under a new Share Sale and Purchase Agreement signed on 3 January 2026, First Energy will sell the shares of OTEPL back to the original seller and its nominee for Rs 100,000 within 30 days, with the buyers not belonging to Thermax’s promoter group and the deal not categorized as a related-party transaction. OTEPL contributed negligible revenue of Rs 122,000 in FY 2024-25, indicating that the reversal is unlikely to have a material financial impact on Thermax, but it marks a strategic pullback from a previously announced acquisition and underscores execution challenges in closing smaller clean energy-related deals within the group.
More about Thermax Limited.
Thermax Limited is an India-based engineering company focused on energy and environment solutions, offering products and services such as boilers, heaters, cooling systems, power generation, waste heat recovery, and water and wastewater treatment to industrial and commercial customers in domestic and international markets.
Average Trading Volume: 7,799
Technical Sentiment Signal: Hold
Current Market Cap: 364.8B INR
For an in-depth examination of THERMAX stock, go to TipRanks’ Overview page.