The board of Waaree Energies Limited has approved a capital expenditure (capex) of Rs 39 billion for a 2,500 tonnes per day glass manufacturing plant to be set up through its wholly owned subsidiary, Waaree Green Glass Private Limited.
The capex will be funded through a mix of debt and internal accruals. The board has also approved the acquisition of an additional equity stake in its subsidiary Waaree Transpower Private Limited, increasing its shareholding from 64.04 per cent to 75.10 per cent. The acquisition is worth Rs 1.9 billion in cash at Rs 75 per share for 25.3 million equity shares, is expected to be completed by June 2026. Waaree Transpower is engaged in the design, manufacture and supply of transformer solutions and has a present production capacity of 4,000 MVA.