Thermax Chemical Solutions Private Limited (TCSPL), a subsidiary of Thermax, has allotted 2,35,00,000 equity shares of ₹10 each on a rights basis. This allotment facilitates further investment in Fortmax Chemicals India Private Limited, also a subsidiary of TCSPL. This move aims to strengthen TCSPL’s financial position and support its strategic investments in the chemical sector.
Equity Share Allotment by TCSPL
Thermax has announced that its wholly-owned subsidiary, Thermax Chemical Solutions Private Limited (TCSPL), has allotted 2,35,00,000 equity shares. The shares are valued at ₹10 each.
Investment in Fortmax Chemicals
The allotment of these equity shares by TCSPL is to further facilitate investment in Fortmax Chemicals India Private Limited. Fortmax Chemicals is a subsidiary of TCSPL. This decision reinforces TCSPL’s commitment to strategic growth within the chemical sector.
Source: BSE