Waaree Renewable Technologies has executed definitive agreements for the acquisition of Associated Power Structures Private Limited (APSPL), including a shareholders agreement and a share purchase and subscription agreement.
The company will acquire a 55 per cent stake in APSPL on a fully diluted basis for a total investment of Rs 12.25 billion, following which APSPL will become its subsidiary. The acquisition, which was earlier expected to be completed by April 30, 2026, is now likely to be completed by June 15, 2026, due to procedural requirements.