Thermax Limited has informed the Exchange about Sale or disposal
THERMAX · price
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Awaiting price reaction for this filing.
Thermax's wholly-owned subsidiary, First Energy Private Limited (FEPL), is selling back its 100% stake in Onix-Two Enersol Private Limited (OTEPL) to the original sellers. The original acquisition deal, signed in September 2024, could not be completed because the closing conditions were not met within the agreed and extended timelines. OTEPL had negligible revenue of only about Rs 1.22 lakh in FY 2024-25. The sale agreement was signed on January 3, 2026, for a consideration of Rs 1 lakh, with completion expected within 30 days. The buyers are not related to Thermax's promoter group, and the transaction is not a related party deal.
The financial impact on Thermax shareholders is negligible given the extremely small revenue and tiny sale consideration of OTEPL. This is essentially an administrative unwinding of a failed acquisition attempt and is unlikely to affect the stock price.