Thermax Limited has informed the Exchange about Acquisition
THERMAX · price
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Thermax Limited has completed the acquisition of an additional 35.83% stake (on a fully diluted basis) in Exactspace Technologies Private Limited, taking its total shareholding in the company to 51% on a fully diluted basis. With this, Exactspace has become a subsidiary of Thermax. The transaction, which was first announced on February 27, 2026 through Share Subscription, Share Purchase, and Shareholders' Agreements, was completed on April 9, 2026. The specific deal value or consideration amount has not been disclosed in this filing.
Exactspace will now be consolidated as a subsidiary in Thermax's financials, which could expand Thermax's digital/technology offering but may also involve goodwill and integration risks. The lack of disclosed deal value leaves investors without clarity on the cost or impact on near-term earnings.