India, July 22 -- As of June 2025, 61.99% is owned by Indian Promoters, 32.55% by Public and 5.47% by Non Promoters-Non Public.

Institutional holds 27.76% (Insurance Companies 1.03%) and Non-Institutional holds 4.77% as Public shareholders.

Top three Promoters holding highest number of shares of Thermax company are Rda Holdings Private Ltd (643.29 lakhs shares / 53.99%), Ara Trusteeship Company Private Limited (95.21 lakhs shares / 7.99%) and Pheroz N Pudumjee (6000 shares / 0.01%).

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