Thermax rises as its arm to acquire 100% stake in OTEPL
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Thermax is currently trading at Rs. 4350.45, up by 22.40 points or 0.52% from its previous closing of Rs. 4328.05 on the BSE.
The scrip opened at Rs. 4330.00 and has touched a high and low of Rs. 4401.95 and Rs. 4288.00 respectively. So far 1219 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 5835.00 on 08-Jul-2024 and a 52 week low of Rs. 2500.00 on 29-Nov-2023.
Last one week high and low of the scrip stood at Rs. 4443.65 and Rs. 4269.00 respectively. The current market cap of the company is Rs. 51825.84 crore.
The promoters holding in the company stood at 61.98%, while Institutions and Non-Institutions held 28.02% and 10.00% respectively.
Thermax’s wholly owned subsidiary -- First Energy (FEPL) has entered into Share Purchase Agreement (SPA) on September 06, 2024 for acquisition of 100% of the equity share capital of Onix-Two Enersol (OTEPL). Accordingly, OTEPL shall become wholly owned step-down subsidiary of the Company.
OTEPL is acquired for the proposed power projects to be undertaken by FEPL. The cost of acquisition is Rs 1 lakh (10,000 equity shares of Rs 10 each).
Thermax is a leading energy and environment solutions provider is one of the few companies in the world that offers integrated innovative solutions in the areas of heating, cooling, power, water and waste management, air pollution control and chemicals.
