Waaree Renewable Technologies (WRTL) has received approval from Board of Directors to enter into a binding term sheet for acquisition of around 55% of the stake in the equity share capital of Associated Power Structures (APSL) for a total consideration of around Rs 1,225 crore mix of primary & secondary, subject to completion of due diligence and customary closing conditions.
Associated power Structures established in 1996, is in the business of Power transmission and distribution into infrastructure sector. Further, pursuant to the above acquisition of shares, Associated Power Structures will become a subsidiary of the Company.
The said investment is part of WRTL’s strategic initiative to expand its presence and strengthen its capabilities across the renewable energy and energy efficiency ecosystem. APSL operates in a complementary sector aligned with WRTL’s long-term vision of integrated clean energy solutions. The Board of Directors of the Company at its adjourned meeting held on January 26, 2026, has, inter alia, considered and approved the same.
Waaree Renewable Technologies operates as a renewable equipment company. The company offers solar PV modules, batteries, and other solar products.
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