Thermax Share Price in Focus; Announces Shareholding Changes in First Energy 8 Private Limited

On March 16, 2026, Thermax Limited announced a significant change in the shareholding structure of its former wholly-owned step-down subsidiary, First Energy 8 Private Limited (FE8PL). This follows the entry of India Cements Limited as a new shareholder. 

India Cements Limited's Investment in FE8PL 

India Cements Limited has entered into a Share Subscription and Shareholders Agreement (SSHA) with FE8PL.  

As part of this agreement, India Cements Limited has agreed to subscribe to 1,32,96,350 equity shares of FE8PL. These shares have a face value of ₹10 each, with an additional premium of ₹4.12 per share. 

This investment represents a 14.63% stake in FE8PL, marking a notable change in the company's shareholding pattern. 

Revised Shareholding Structure 

Following this transaction, the shareholding structure of FE8PL has been updated. First Energy Private Limited, a subsidiary of Thermax Limited, now holds 5,64,70,588 shares, equating to a 62.15% stake.  

MRF Limited retains 2,11,00,000 shares, representing 23.22% of the company. India Cements Limited's new stake stands at 1,32,96,350 shares, or 14.63% of the total share capital. 

Impact of the Restructuring 

This restructuring reduces Thermax Limited's holding in FE8PL to 62.15%. The move aligns with the company's strategic objectives and reflects its evolving business dynamics. 

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Thermax Share Price Performance 

As of March 16, 2026, at 3:30 PM, Thermax share price on NSE was closed at ₹3,259.20 up by 1.19% from the previous closing price. 

Conclusion 

The shareholding changes in First Energy 8 Private Limited highlight a strategic shift for Thermax Limited. With India Cements Limited's investment, the company now has a diversified ownership structure, which could influence its future operations and partnerships. 

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