VA Tech Wabag Shares Rise Following New Bioenergy Partnership
VA Tech Wabag gains after entering shareholders' agreement for Ghaziabad Bioenergy SPV
Business Standard
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VA Tech Wabag's shares increased by 1.98% to ₹1,346.95 after signing a shareholders' agreement with Peak Sustainability Venture Fund I and Ghaziabad Bioenergy to create a special purpose vehicle (SPV). Each party will hold an economic interest of up to 50% and share equal representation on the SPV board.
- 01VA Tech Wabag's shares rose by 1.98%
- 02The company executed a shareholders' agreement for a new SPV
- 03VA Tech Wabag and Peak Sustainability will each hold up to 50% interest
- 04The agreement includes a three-year lock-in period
- 05The company's net profit increased by 30.63% in Q3 FY26
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VA Tech Wabag, a global water technology company, saw its shares rise by 1.98% to ₹1,346.95 after entering a shareholders' agreement with Peak Sustainability Venture Fund I and Ghaziabad Bioenergy to establish a special purpose vehicle (SPV). Under the agreement, VA Tech Wabag and Peak Sustainability will each hold an economic interest of up to 50% and have equal representation through nominee directors on the SPV board. The agreement also includes a three-year lock-in period, restrictions on share transfers without mutual consent, and a right of first refusal. VA Tech Wabag reported a 30.63% increase in consolidated net profit to ₹91.70 crore for Q3 FY26, alongside an 18.53% rise in revenue to ₹961.30 crore compared to the same quarter in the previous year.
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The establishment of the SPV could enhance local bioenergy projects, potentially leading to job creation and sustainable energy solutions in Ghaziabad, Uttar Pradesh.
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