Waaree Energies has received approval from Board of Directors for acquisition of Kamath Transformers. The cost of acquisition is around Rs 293 crore. Kamath Transformers is in the business of manufacturing transformers.
The company’s board has approved the acquisition of Green New Delhi Forever Energy (newly incorporated non-operating company) by Waaree Forever Energies, a wholly owned subsidiary of the Company. It will be acquired for Rs 1 lakh per share at a face value of Rs 10 each.
Waaree Energies expects to complete both the acquisitions in FY26 in all-cash consideration. The Board of Directors of the Company at its meeting held on May 19, 2025 has, inter alia, considered and approved the same.
Waaree Energies is primarily engaged in the business of manufacture of solar photo-voltaic modules, setting up of projects in solar space and sale of electricity.
