Thermax Limited has received approval from the Hon’ble National Company Law Tribunal (NCLT), Mumbai Bench, for the Scheme of Merger by Absorption of Buildtech Products India Private Limited with Thermax Limited. The NCLT passed its order on June 2, 2026, and the company received a copy on June 3, 2026. The merger will become effective upon the filing of the NCLT's order with the Registrar of Companies, Pune. The appointed date for the scheme was April 1, 2025. This merger aims to consolidate and effectively manage the businesses of both companies, leading to benefits such as synergy, economies of scale, improved efficiencies, and cost competitiveness. Buildtech Products India Private Limited, a wholly-owned subsidiary of Thermax Limited, is engaged in the manufacturing and dealing of construction chemicals. Thermax Limited offers solutions in the energy, environment, and chemical sectors. The rationale for the merger includes consolidating the construction chemicals business, eliminating operational duplication, expanding Thermax's market reach through Buildtech's network, simplifying the group structure, reducing overheads, and enabling pooling of resources for better cash flow management and growth opportunities. The NCLT order stated that the scheme is fair and reasonable, not in violation of any law, and not contrary to public policy. The merger involves no issuance of new shares or consideration as Thermax already holds the entire equity share capital of Buildtech. The transferor company, Buildtech Products India Private Limited, will be dissolved without winding up.
