Thermax subsidiary creates new renewable energy entity

Thermax Limited announced that its wholly-owned subsidiary, First Energy Private Limited (FEPL), has incorporated a new step-down subsidiary named "First Energy 15 Private Limited" (FE15). The certificate of incorporation for FE15 was issued by the Ministry of Corporate Affairs (MCA) on December 16, 2025. This incorporation makes FE15 a wholly-owned step-down subsidiary of Thermax.

FE15 is established in the renewable energy sector, aligning with the industry of its parent entity. The newly incorporated company has an authorized share capital of INR 100,000, divided into 10,000 equity shares of INR 10 each. The paid-up capital for FE15 also stands at INR 100,000, which was paid in cash as the initial subscription amount.

FE15 is currently a newly incorporated company and is yet to commence business operations. As a wholly-owned step-down subsidiary, FE15 is considered a related party to Thermax.