Thermax Limited has informed the Exchange about order passed by the Hon'ble National Company Law Tribunal, Mumbai Bench approving the Scheme of Merger by Absorption of Buildtech Products India Private Limited with the Company.
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The National Company Law Tribunal (NCLT), Mumbai Bench has passed an order approving the Scheme of Merger by Absorption of Buildtech Products India Private Limited with Thermax Limited. Under this scheme, Buildtech Products will be merged into Thermax, with Thermax as the surviving entity. The announcement does not disclose the swap ratio, financial consideration, or effective date of the merger. With the NCLT order in place, the scheme has cleared a key regulatory milestone required for the merger to be implemented.
The merger is now closer to completion, and Buildtech Products will become part of Thermax's consolidated structure. Shareholders should look out for further updates on the effective date, swap ratio, and any impact on shareholding, though near-term stock reaction may be limited given the private nature of the merging entity.