The Thermax board approved a merger of Buildtech Products India Private Limited with Thermax, an additional investment of ₹40 crores in Fortmax Chemicals India Private Limited (FCIPL), and support of up to ₹42 Crores to Enernxt Private Limited. The merger aims to consolidate businesses and streamline operations, while the investments are geared toward supporting growth and expansion in related sectors.
Buildtech Products India Merger
Thermax Limited’s board has greenlit a scheme for the merger of Buildtech Products India Private Limited (“Transferor Company”) with Thermax Limited (“Transferee Company”). The appointed date for the scheme is set for April 1, 2025, or another date approved by the Hon’ble NCLT.
The merger aims to consolidate the businesses. Buildtech is engaged in manufacturing and trading construction materials and chemicals, and the merger seeks enhanced synergies and efficient asset utilization.
Investment in Fortmax Chemicals India Private Limited
The board has also approved an additional equity investment of ₹40 crores (Rupees Forty Crores Only) in the share capital of Thermax Chemical Solutions Private Limited (TCSPL), a wholly-owned subsidiary of the company. This investment will further support Fortmax Chemicals India Private Limited (FCIPL), a subsidiary of TCSPL.
Support to Enernxt Private Limited
Thermax will extend support of up to ₹42 Crores (Rupees Forty-Two Crores Only) to Enernxt Private Limited, a wholly-owned step-down subsidiary. This support will be facilitated through Thermax Onsite Energy Solutions Limited, a wholly-owned subsidiary of Thermax.
Source: BSE
