Infinite Uptime Acquires Stake in Covacsis Technologies

Pune: Infinite Uptime, a player in AI-driven industrial diagnostics, has acquired a minority stake in Covacsis Technologies Pvt. Ltd. from Thermax Limited (NSEI:THERMAX) for ₹1 million. This strategic investment, finalized on April 4, 2025, marks a significant step in the company’s expansion into the industrial IoT and smart manufacturing sectors.​

LegaLogic Consulting acted as the sole legal advisor for Infinite Uptime, managing due diligence and the comprehensive legal framework of the transaction. Dr. Raunak Bhinge, Founder and CEO of Infinite Uptime, praised LegaLogic’s meticulous approach, stating, “LegaLogic played a crucial role in ensuring the best outcome for Infinite Uptime and achieving the core objectives of the mandate.”​

Infinite Uptime Enhances Service Offerings

The company specializes in advanced analytics and real-time diagnostics, providing predictive maintenance solutions that help industries prevent machinery failures. The company’s investment in Covacsis Technologies, known for its expertise in industrial IoT and digital manufacturing, is expected to enhance its service offerings and market reach.​

Thermax Limited announced the sale of its stake in Covacsis Technologies, resulting in Covacsis no longer being an associate company of Thermax. The transaction, compliant with SEBI’s LODR Regulations, was finalized on April 4, 2025.

Thermax sold its stake for approximately ₹10 crores, with Covacsis having reported a loss of ₹1.79 crores in FY 2023-24. This strategic divestment aligns with Thermax’s focus on core business areas and operational efficiency.