Thermax Limited has informed the Exchange about signing of share purchase agreement with Everenviro Resource Management Private Limited for acquisition of stake in Thermax Bioenergy Solutions Private Limited
THERMAX · price
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Awaiting price reaction for this filing.
Thermax Limited has signed a Share Purchase Agreement on August 13, 2025 to buy the remaining 23.03% stake (87.5 lakh equity shares) in its subsidiary Thermax Bioenergy Solutions Private Limited (TBSPL) from Everenviro Resource Management for Rs. 16.71 crore in cash. Thermax currently holds 76.97% in TBSPL, and after this deal, TBSPL will become a wholly owned subsidiary. The transaction is a related party deal done at arm's length and is expected to complete within 30 days. TBSPL operates in the Bio-CNG (Technology, Engineering, Procurement & Construction) space and has shown strong revenue growth, from Rs. 48 crore in FY23 to Rs. 264.59 crore in FY24 and Rs. 569.80 crore in FY25.
Positive for Thermax shareholders as it consolidates full ownership of a fast-growing Bio-CNG subsidiary whose revenue has grown nearly 12x over two years, allowing 100% capture of future profits. The cost is modest (Rs. 16.71 crore) relative to TBSPL's turnover, so impact on the stock is likely neutral to mildly positive.