Fabtech Technologies settles TSA Process Equipments share sale for ₹13,986 Cr.
Fabtech Technologies executed a Settlement Agreement on September 29, 2026, for the sale of its remaining shares in TSA Process Equipments to Thermax Limited. The sale is expected to be completed by October 05, 2026, with a consideration of ₹13,98,60,000.
The sale of a subsidiary, even one with NIL contribution to revenue and net worth, represents a strategic move by the company. The consideration amount is material, justifying a medium impact.
The announcement details the finalization of a share sale agreement with revised terms, which is a standard business transaction. While it completes a divestment, there are no immediate positive or negative financial indicators presented beyond the transaction value itself.
Fabtech Technologies Limited has executed a Settlement Agreement on September 29, 2026, in connection with the sale of its remaining shareholding in TSA Process Equipments Private Limited to Thermax Limited.
This settlement agreement revises certain terms related to the consideration for the second and final tranche of the transaction. The company had initially entered into a Share Purchase Agreement (SPA) on February 06, 2024, with Thermax Limited for the sale of its shares in TSA. The first tranche, involving the acquisition of 51% of TSA's share capital by Thermax, was completed in April 2024.
The second tranche involves the sale of 2,23,440 equity shares held by Fabtech in TSA. The settlement agreement is intended to record and give effect to the mutually agreed revised terms for the completion of this final tranche, with an expected completion date of October 05, 2026. The consideration received from this sale is ₹13,98,60,000. TSA Process Equipments Private Limited contributed NIL to Fabtech's turnover/revenue/income and net worth in the last financial year. Thermax Limited is the buyer, and they are not related to Fabtech's promoter or group companies, and the transaction is not considered a related party transaction.
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Fabtech Technologies Limited filed this with the NSE as a statutory disclosure, categorised under other corporate actions. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by Fabtech Technologies Limited. Read the original for the full detail.