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First Energy Private Limited becomes Wholly Owned Subsidiary of Thermax Limited

First Energy Private Limited becomes Wholly Owned Subsidiary of Thermax Limited
Posted On:
2020-12-21 07:49:35
(Time Zone: Arizona, USA)
Thermax Ltd has acquired remaining 24% stake in First Energy Private Limited (FEPL) effective December 21, 2020. Accordingly, the equity shareholding of the Company in FEPL stands increased from 76% to 100%. Now, FEPL is a wholly owned subsidiary of the Company.
FEPL is a subsidiary of Thermax wherein Thermax Limited was holding 76% of its paid up share capital before the date of this acquisition. FEPL is an alternative energy company based in Pune, India that applies biomass and gasification technology to heating applications; specifically home and commercial cooking. It is engaged in the business of manufacture & supply of biomass pellets, gasification technology and cooking stoves. It caters to consumers in India through their brand Oorja which consists of a biomass stove and a fuel - made from pelletized agri-residu ....

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