Thermax Ltd.

Shareholders holding 1% or more · latest filing Sep 2026

Ownership split · Sep 2026

Share of total equity by holder type, with change since Jun 2026.

Promoters 61.98% 0
FII / FPI 11.31% 0.15 pp
DII 14.94% 0.28 pp
Retail & others 11.78% 0.44 pp
Non-public / other 0% 0
Holder typeDec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Promoters61.98%61.98%61.98%61.98%61.98%61.98%61.98%61.98%
FII / FPI15.49%15.86%16.02%13.44%12.36%11.24%11.46%11.31%
DII12.66%12.25%11.75%13.95%14.84%15.49%15.22%14.94%
Retail & others9.87%9.91%10.25%10.62%10.82%11.29%11.34%11.78%
Non-public / other0%0%0%0%0%0%0%0%

Major shareholders

24 current holders with 1% or more in the Sep 2026 filing. Click a name to see everything they hold.

Holder Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026 Change (QoQ)
RDA HOLDINGS PRIVATE LTD Promoter 53.99%6.43 53.99%6.43 53.99%6.43 53.99%6.43 53.99%6.43 53.99%6.43 53.99%6.43 53.99%6.43 0
ARA TRUSTEESHIP COMPANY PRIVATE LIMITED Promoter 7.99%0.95 7.99%0.95 7.99%0.95 7.99%0.95 7.99%0.95 7.99%0.95 7.99%0.95 7.99%0.95 0
SBI NIFTY MIDCAP 150 MOMENTUM 50 ETF Institution – – – – – – 6.03%0.72 5.15%0.61 0.88 pp
NALANDA INDIA EQUITY FUND LIMITED Institution 5.13%0.61 5.13%0.61 5.13%0.61 5.13%0.61 5.13%0.61 5.13%0.61 5.13%0.61 5.13%0.61 0
JASMEET BHATIA Institution 2.42%0.29 2.42%0.29 2.41%0.29 2.41%0.29 2.41%0.29 2.41%0.29 2.41%0.29 2.4%0.29 0.01 pp
KOTAK MAHINDRA TRUSTEE CO LTD A/C KOTAK NIFTY MIDC Institution – – – – 2.44%0.29 – 1.84%0.22 1.91%0.23 0.07 pp
SUNDARAM MUTUAL FUND A/C SUNDARAM FLEXI CAP FUND Institution New – – – – – – – 1.51%0.18 –
SBI LIFE INSURANCE CO. LTD Institution – – – – – – 1.09%0.13 1.09%0.13 0
Investor Education and Protection Fund (IEPF) Public 0.12%0.01 0.12%0.01 0.12%0.01 0.13%0.02 0.13%0.02 0.12%0.01 0.13%0.02 0.12%0.01 0.01 pp
PHEROZ N PUDUMJEE Promoter 0.01%0.00 0.01%0.00 0.01%0.00 0.01%0.00 0.01%0.00 0.01%0.00 0.01%0.00 0.01%0.00 0
MEHER PUDUMJEE Promoter – 0%0 0%0 0%0 0%0 0%0 0%0 0%0 0
ARNAVAZ ROHINTON AGA Promoter – 0%0 0%0 0%0 0%0 0%0 0%0 0%0 0
ZAHAAN PHEROZ PUDUMJEE Promoter – 0%0 0%0 0%0 0%0 0%0 0%0 0%0 0
LEA PUDUMJEE Promoter – 0%0 0%0 0%0 0%0 0%0 0%0 0%0 0
MEHER P. SETHNA Promoter – 0%0 0%0 0%0 0%0 0%0 0%0 0%0 0
KHORSHED KAVAS BHARUCHA Promoter – 0%0 0%0.00 0%0.00 0%0.00 0%0 0%0 0%0 0
SHAKTI SUSTAINABLE ENERGY FOUNDATION Promoter – 0%0 0%0 0%0 0%0 0%0 0%0 0%0 0
SOCOMP SOLUTIONS PRIVATE LIMITED Promoter – 0%0 0%0 0%0 0%0 0%0 0%0 0%0 0
LAZARA CAPITAL ADVISORS PRIVATE LIMITED Promoter – 0%0 0%0 0%0 0%0 0%0 0%0 0%0 0
MEPHEZALEA ASSET SERVICES LLP Promoter – 0%0 0%0 0%0 0%0 0%0 0%0 0%0 0
DARAYUS A. BHATENA Other – 0%0 0%0 0%0 0%0 0%0 0%0 0%0 0
RDA INVESTMENTS SINGAPORE PTE. LTD. Other – 0%0 0%0 0%0 0%0 0%0 0%0 0%0 0
LAZARA INVESTMENT SERVICES LLP Promoter – – – – 0%0 0%0 0%0 0%0 0
JAMSHED A. BHATENA Other New – – – – – – – 0%0 –
JAMSDHED A. BHATENA Other Exited / below 1% – 0%0 0%0 0%0 0%0 0%0 0%0 – –
KOTAK FUNDS - INDIA MIDCAP FUND Institution Exited / below 1% 1.35%0.16 1.35%0.16 1.35%0.16 1.4%0.17 1.32%0.16 1.04%0.12 – – –
SBI ESG EXCLUSIONARY STRATEGY FUND Institution Exited / below 1% – – – 7.6%0.91 – 7.8%0.93 – – –
ICICI PRUDENTIAL MUTUAL FUND - ICICI PRUDENTIAL NI Institution Exited / below 1% – – – – – 1.01%0.12 – – –
KOTAK FLEXICAP FUND Institution Exited / below 1% – – – – – 2.21%0.26 – – –
SBI ENERGY OPPORTUNITIES FUND Institution Exited / below 1% – 6.03%0.72 – – 7.81%0.93 – – – –
ICICI PRUDENTIAL ENERGY OPPORTUNITIES FUND Institution Exited / below 1% – – – – 1.26%0.15 – – – –
KOTAK MAHINDRA TRUSTEE CO LTD A/C KOTAK MANUFACTUR Institution Exited / below 1% – – 2.67%0.32 2.5%0.30 – – – – –
SBI ESG EXCLUSIONARY STRATEGY FUN Institution Exited / below 1% – – 6.62%0.79 – – – – – –
KOTAK EQUITY OPPORTUNITIES FUND Institution Exited / below 1% – 3.92%0.47 – – – – – – –
KOTAK MAHINDRA TRUSTEE CO LTD A/C KOTAK QUANT FUND Institution Exited / below 1% 4.16%0.50 – – – – – – – –
SBI NIFTY 500 INDEX FUND Institution Exited / below 1% 5.76%0.69 – – – – – – – –

Companies only disclose holders with 1% or more, so “Exited / below 1%” can also mean the stake fell under 1%. “pp” = percentage points.

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