Thermax injects equity into renewable energy subsidiary

Thermax Limited announced an equity infusion into First Energy 11 Private Limited (FE11), a step-down wholly-owned subsidiary. First Energy Private Limited (FEPL), a wholly-owned subsidiary of Thermax, allotted 83,990,000 shares of Rs. 10 each to FEPL in FE11.

FE11, incorporated on July 29, 2024, is a Special Purpose Vehicle for renewable energy projects. This equity infusion supports new projects to be undertaken by FE11. FEPL's turnover was Rs 4,911.27 lakhs as of March 31, 2025.