Thermax Ltd. Shareholding Pattern: Promoters, FIIs, DIIs & Public Holdings (Latest)

Financial Shareholding

Shareholding Snapshot : Dec 2025

Score and Return Performance

Majority shareholders

Promoters

Pledged Promoter Holdings

None

Mutual Funds

Held by 27 Schemes (13.26%)

FIIs

Held by 210 FIIs (12.36%)

Promoter with highest holding

Rda Holdings Private Ltd (53.99%)

Highest Public shareholder

Sbi Energy Opportunities Fund (7.81%)

Individual Investors Holdings

4.52%

Shareholding Analysis

Promoters

No change in Promoter holdings

FII

FII holding has decreased by -1.08%

MF

MF holding has increased by 0.7%

Insurance

Holdings of Insurance companies has increased by 0.14%

OtherDII

Other DII holding has increased by 0.05%

NII

Holdings of Non Institutional Shareholders has increased by 0.2%

Shareholding Snapshot: Dec 25

Shareholders

Shares(Cr.)

Holding(%)

Promoters

Pledged shares

7.39

0.0

61.98%

0.0%

FIIs

1.47

12.36%

Mutual Funds

1.58

13.26%

Insurance

0.17

1.47%

Other DIIs

0.01

0.11%

Non Institutional Investors

1.29

10.82%

Others

0.0%

Total

11.91

100%

Promoter Holding - Dec 25

Shareholders

Total Shares(Cr.)

in %

Rda Holdings Private Ltd

6.43

53.99%

Ara Trusteeship Company Private Limited

0.95

7.99%

Pheroz N Pudumjee

0.01%

Khorshed Kavas Bharucha

Rda Investments Singapore Pte. Ltd.

Darayus A. Bhatena

Jamsdhed A. Bhatena

Lazara Investment Services Llp

Mephezalea Asset Services Llp

Lazara Capital Advisors Private Limited

Socomp Solutions Private Limited

Shakti Sustainable Energy Foundation

Meher P. Sethna

Lea Pudumjee

Zahaan Pheroz Pudumjee

Arnavaz Rohinton Aga

Meher Pudumjee

Public Shareholders (above 5%) Dec 25

Shareholders

in %

Total Shares(Cr.)

Sbi Energy Opportunities Fund

7.81%

0.93

Nalanda India Equity Fund Limited

5.13%

0.61

Public Shareholders (above 1%) Dec 25

Shareholders

in %

Total Shares(Cr.)

Kotak Mahindra Trustee Co Ltd A/c Kotak Nifty Midc

2.44%

0.29

Kotak Funds - India Midcap Fund

1.32%

0.16

Icici Prudential Energy Opportunities Fund

1.26%

0.15

Shareholding Compare (%holding)

Dec 25

Sep 25

Change(%)

Promoters

61.98

FIIs

12.36

13.44

-1.08

Mutual Funds

13.26

12.56

0.7

Insurance Companies

1.47

1.33

0.14

Other DIIs

0.11

0.06

0.05

Non Institution

10.82

10.62

0.2

Promoter holding 61.98%

in Dec 2025

Figures in Cr

No change in Promoter holdings

No change in Promoter pledged shares

FIIs Holdings 12.36%

in Dec 2025

Figures in Cr

FII holding has decreased by -1.08%

Number of FIIs holding stake in the company has decreased to 210 from 241

MF Holdings 13.26%

in Dec 2025

Figures in Cr

MF holding has increased by 0.7%

Number of MFs holding stake in the company has remained stable at 27

Insurance Holdings 1.47%

in Dec 2025

Figures in Cr

Holdings of Insurance companies has increased by 0.14%

Number of Insurance companies holding stake in the company has decreased to 10 from 11

Other DII Holdings 0.11%

in Dec 2025

Figures in Cr

Other DII holding has increased by 0.05%

Number of Other DIIs holding stake in the company has increased to 9 from 8

NIIs Holdings 10.82%

in Dec 2025

Figures in Cr

Holdings of Non Institutional Shareholders has increased by 0.2%

Number of Non Institutional Shareholders holding stake in the company has increased to 77195 from 70917