Waaree Renewable Technologies to Acquire Majority Stake in Associated Power Structures
Waaree Renewable to acquire 55% stake in Associated Power Structures for Rs 1,225 crore
The Economic Times
Image: The Economic Times
Waaree Renewable Technologies, based in New Delhi, has announced its acquisition of a 55% stake in Associated Power Structures Pvt Ltd for ₹1,225 crore (approximately $147 million USD). The acquisition is expected to be finalized by June 15, 2026, making Associated Power Structures a subsidiary of Waaree Renewable.
- 01Waaree Renewable Technologies will acquire a 55% stake in Associated Power Structures Pvt Ltd.
- 02The acquisition is valued at ₹1,225 crore (approximately $147 million USD).
- 03The deal includes a Shareholders Agreement and a Share Purchase and Subscription Agreement.
- 04The acquisition is expected to be completed by June 15, 2026.
- 05Associated Power Structures will become a subsidiary of Waaree Renewable post-acquisition.
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Waaree Renewable Technologies, a company based in New Delhi, has signed agreements to acquire a 55% stake in Associated Power Structures Pvt Ltd for ₹1,225 crore (approximately $147 million USD). This acquisition involves two key agreements: the Shareholders Agreement (SHA) and the Share Purchase and Subscription Agreement (SPSA). While the acquisition is planned for completion by April 30, 2026, it is expected that procedural requirements will push the finalization to June 15, 2026. Following this acquisition, Associated Power Structures will become a subsidiary of Waaree Renewable, which currently holds no shares in the company.
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This acquisition could enhance Waaree Renewable's capabilities in the renewable energy sector, potentially leading to job creation and increased investment in the industry.
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