First Energy 11 Private Limited (FE11PL), previously a wholly-owned step-down subsidiary of Thermax, has ceased to be so. This change occurred following FE11PL’s allotment of 3,45,87,000 equity shares to Garden Silk Mills Private Limited. The company wishes to inform its stakeholders about this development, effective as of July 8, 2025.
Change in Subsidiary Ownership
Thermax Limited announces that First Energy 11 Private Limited (FE11PL) is no longer a wholly-owned step-down subsidiary of the company. This change came into effect following the allotment of shares to another entity.
Details of the Transaction
The cessation of FE11PL’s status as a wholly-owned subsidiary is a result of FE11PL allotting 3,45,87,000 equity shares to Garden Silk Mills Private Limited. This action has diluted Thermax’s ownership in FE11PL.
Key Dates
This change is in continuation to earlier intimations dated July 8, 2025 and July 24, 2025.
Impact
This change reflects a restructuring of ownership, with Garden Silk Mills Private Limited now holding a stake in First Energy 11 Private Limited. FE11PL remains a captive user as per the Electricity Act, 2003.
Source: BSE
