Thermax Ltd Completes Acquisition, Increases Stake in Exactspace Technologies
Thermax Ltd has finalized its acquisition of a controlling stake in Exactspace Technologies Private Limited. The Company's shareholding in Exactspace has increased to 51% on a fully diluted basis, making Exactspace a Subsidiary of Thermax Ltd.This development follows an earlier intimation concerning the execution of a Share Subscription and Share Purchase Agreement and a Shareholders' Agreement (collectively, the 'Definitive Agreements') with Exactspace and its Promoters and existing investors for the acquisition of a stake.
The transaction was completed on April 9, 2026, at 5.43 p.m. (IST). The initial acquisition focused on a 35.83% stake in Exactspace on a fully diluted basis.
The transaction solidifies Thermax Ltd's controlling interest, positioning Exactspace Technologies Private Limited as a subsidiary of Thermax Ltd following the completion of the share purchase.
THERMAX Stock Price Movement
Today, Thermax Limited shares edged higher to close at ₹3,535.1, marking a substantial gain of 7.09%. The stock settled for the day amid strong trading, recording a volume of 676,592 shares.Source:
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