Thermax Limited (NSEI:THERMAX) signed share purchase agreement to acquire an additional unknown minority stake in ExactSpace Technologies Private limited on February 27, 2026. A cash consideration will be paid by Thermax Limited. For the period ending March 31, 2025, ExactSpace Technologies Private limited reported total revenue of INR 62.1 million. Thermax Limited signed share purchase agreement, Share Subscription and shareholders agreement to acquire 35.83% stake for INR 305 million. Post completion of these agreements, Thermax Limited will own 51% stake in ExactSpace Technologies Private limited.
Thermax Limited (NSEI:THERMAX) completed the acquisition of an additional unknown minority stake in ExactSpace Technologies Private limited on April 9, 2026.
Thermax Limited is an India-based energy and environment solutions provider. The Company's segments include Industrial Products, Industrial Infra, Green Solutions and Chemical. Industrial Products segment includes air pollution control, cooling, heating, water and waste solutions, and specialized services. Industrial Infra segment includes boilers and fired heaters, projects and energy solutions, and specialized services. Green Solutions segment includes build-own-operate, energy management solutions, green hydrogen projects and renewable energy (solar/wind). Chemical segment includes construction chemicals, ion exchange resins, oil field chemicals and performance chemicals. Its Thermax EDGE Live is a digital solution that uses AI and machine learning to analyze data from all industrial equipment worldwide and help clients to optimize asset performance in terms of up time and efficiency. It serves various industries, including aviation, construction, biotechnology and chemicals.
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