Thermax Completes Acquisition of Exactspace, Increases Stake to 51%
Thermax Limited has completed the acquisition of Exactspace Technologies Private Limited. The company's shareholding in Exactspace has increased to 51% on a fully diluted basis, making it a subsidiary. The transaction was finalized on April 9, 2026.
The acquisition of a majority stake in another company is a significant corporate action that could impact Thermax's future growth and financial performance.
The acquisition of a controlling stake and making Exactspace a subsidiary is a positive strategic move for Thermax.
Thermax Limited has announced the completion of its acquisition of a 35.83% stake in Exactspace Technologies Private Limited, as per the Definitive Agreements signed earlier. Following this transaction, Thermax's shareholding in Exactspace has increased to 51% on a fully diluted basis, making Exactspace a subsidiary of Thermax.
The acquisition, which was initiated with an earlier intimation on February 27, 2026, was officially completed on April 9, 2026, at 5:43 p.m. IST.
This development signifies a strategic move by Thermax to consolidate its position and expand its operations through the subsidiary.
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Thermax Limited filed this with the NSE as a statutory disclosure, categorised under acquisition. 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 Thermax Limited. Read the original for the full detail.