Waaree Energies to acquire 76 percent stake in smart meter maker Racemosa

Acquisition announcedStrategic Transactions View source PDF Explain this filing

WAAREEENER · price

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Other Electrical Equipment peers, median of 39sector-0.5%+1.7% vs sector

On the reaction day the stock moved 1.2 pts more than Nifty Midcap 150 and 1.7 pts more than its Other Electrical Equipment peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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AI summary

The board approved the purchase of a 76 percent stake in Racemosa Energy India for about Rs 53 crore in cash. Racemosa, incorporated in 2018, manufactures smart meters. The deal will make it a step-down subsidiary after closing conditions and approvals are met, and is expected to complete in FY 2025-26 or later if extended.

Likely market impact

The acquisition expands Waaree's smart meter capabilities and strengthens its position across the energy value chain, subject to completion.