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Waaree Renewable to acquire 55% stake in Associated Power Structures for INR 1,225 crore

#Taxation & Finance News#Industrial#India
Last Updated : 11th May, 2026
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Synopsis

Waaree Renewable Technologies has signed definitive agreements to acquire a 55 per cent stake in Associated Power Structures Pvt Ltd for INR 1,225 crore. The acquisition, which includes both purchase of existing shares and fresh issuance of securities, is now expected to be completed by June 15, 2026 due to procedural formalities. Once the transaction is completed, Associated Power Structures will become a subsidiary of Waaree Renewable Technologies. The move is expected to strengthen Waaree Renewable’s presence in the power and infrastructure segment as the company continues to expand its renewable energy and EPC business portfolio.

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Waaree Renewable Technologies said on Thursday that it has entered into definitive agreements for the acquisition of a 55 per cent stake in Associated Power Structures Pvt Ltd (APSPL) for INR 1,225 crore.


According to a regulatory filing, the company has executed a Shareholders Agreement (SHA) along with a Share Purchase and Subscription Agreement (SPSA) in connection with the transaction. APSPL was earlier known as Associated Power Structures Limited.

The acquisition includes both the purchase of existing securities and subscription to fresh securities that will be issued by APSPL. Waaree Renewable Technologies currently does not hold any stake in the company.

The transaction was initially expected to be completed by the end of April this year. However, the company said procedural requirements led to a revision in the timeline, and the process is now expected to be completed by June 15, 2026.

Following the completion of the deal, Waaree Renewable Technologies will hold a 55 per cent stake in APSPL on a fully diluted basis. This will result in APSPL becoming a subsidiary of the company.

The filing further stated that the total investment value for the acquisition stands at INR 1,225 crore.

The development comes at a time when renewable energy and infrastructure companies are increasingly looking at expansion through strategic acquisitions and partnerships. In recent years, companies in the clean energy and EPC sectors have focused on strengthening execution capabilities, transmission infrastructure and integrated project development to support India’s rising renewable energy targets.

Waaree Renewable Technologies, which is part of the broader Waaree Group, has been expanding its presence in the solar and renewable energy segment through utility-scale projects and EPC operations. The acquisition is expected to support the company’s long-term growth plans in the infrastructure and power solutions space.

Source PTI
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