09 Sep 2024

Thermax Gains on Subsidiary's Full Acquisition of OTEPL

Thermax's shares are currently trading at ₹4350.45, marking an increase of 22.40 points or 0.52% from its previous closing price of ₹4328.05 on the BSE. The stock opened at ₹4330.00 and reached a high of ₹4401.95, with a low of ₹4288.00 during the trading session, with 1219 shares exchanged so far.

The BSE group 'A' stock with a face value of ₹2 touched a 52-week high of ₹5835.00 on July 8, 2024, and a 52-week low of ₹2500.00 on November 29, 2023. In the past week, the stock's high and low stood at ₹4443.65 and ₹4269.00, respectively. The company's market capitalization is ₹51,825.84 crore.

Thermax's promoter holding is 61.98%, while institutional and non-institutional investors hold 28.02% and 10.00%, respectively.

Thermax's subsidiary, First Energy (FEPL), signed a Share Purchase Agreement (SPA) on September 6, 2024, to acquire a full 100% stake in Onix-Two Enersol (OTEPL). Following this, OTEPL will become a fully-owned subsidiary of Thermax. The acquisition, priced at ₹1 lakh for 10,000 equity shares of ₹10 each, is intended to support power projects led by FEPL.

Thermax is a global leader in energy and environmental solutions, offering integrated solutions across heating, cooling, power, water, waste management, air pollution control, and chemicals.