Waaree Energies has received approval from Board of Directors for acquisition of additional equity stake in its subsidiary Company, Waaree Transpower (formerly known as Kotsons), from the current shareholding of 64.04% to 75.10% of the paid-up equity share capital of Waaree Transpower. The additional acquisition will enable capacity expansion and capital expenditure requirements.
The company has also received approval for capital expenditure amounting to Rs 3900 crore for glass manufacturing plant in its wholly owned subsidiary Waaree Green Glass for a capacity of 2500 TPD. The capex will be funded by mix of Debt and Internal accruals.
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.
