Waaree Energies Limited has informed the Exchange about General Updates
WAAREEENER · price
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Waaree Energies' board has approved two acquisitions. The first is a 100% acquisition of Kamath Transformers Private Limited for approximately Rs 293 crores in cash. Kamath Transformers is an established transformer manufacturer incorporated in 1996, with turnover growing from Rs 25.7 crores in FY22 to Rs 122.7 crores in FY24. The second is the acquisition of Green New Delhi Forever Energy Private Limited by Waaree's wholly owned subsidiary for Rs 1 lakh; this is a newly incorporated, non-operational company that will be used to hold specific power projects under the Independent Power Producer (IPP) framework. Both deals are expected to be completed in FY 2025-26 and neither is a related party transaction.
The Kamath Transformers deal is a meaningful vertical integration move that gives Waaree direct access to transformer manufacturing, a key component in its solar and power business, while the IPP vehicle supports expansion of its power generation portfolio. Both are growth-oriented steps that could strengthen Waaree's position across the solar value chain, though the Rs 293 crore cash outlay is a notable capital deployment.