Thermax completes full acquisition of TSA Process Equipments
Thermax Limited acquired the remaining 49% equity stake in TSA Process Equipments Private Limited, finalising the transaction on September 30, 2026.1
The cash consideration for the 100% acquisition was Rs. 42 Crores, bringing TSA Process Equipments fully under Thermax's ownership; the subsidiary reported a turnover of Rs. 166.99 Crores in FY 2025-26 and Thermax's shares were last quoted at Rs. 3390.85 on the BSE.1