Waaree Energies Limited has informed the Exchange regarding Outcome of Board Meeting held on Tuesday, March 24, 2026.
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Waaree Energies' board approved increasing its stake in subsidiary Waaree Transpower Private Limited (transformer maker) from 64.04% to 75.10%, buying an additional 11.06% for Rs 190 crore at Rs 75 per share, expected to complete by June 2026. The board also approved a Rs 3,900 crore capital expenditure for a new glass manufacturing plant with 2,500 TPD capacity in wholly-owned subsidiary Waaree Green Glass Private Limited, funded through a mix of debt and internal accruals. Waaree Transpower, incorporated in 1978, has a current production capacity of 4,000 MVA and reported turnover of Rs 16.45 crore (FY23), Nil (FY24), and Rs 8.47 crore (FY25). The acquisition is classified as a related party transaction done at arm's length pricing.
The moves signal aggressive expansion in both transformers and solar glass manufacturing, strengthening Waaree's vertical integration in the solar value chain. The Rs 3,900 crore capex is a large commitment that could pressure short-term returns but supports long-term growth, while the subsidiary stake hike consolidates control over the transformer business.