Waaree Renewable Technologies on Thursday said it has inked pacts for the acquisition of a 55 per cent stake in Associated Power Structures Pvt Ltd for Rs 1,225 crore.
According to a regulatory filing, the company has executed definitive agreements in relation to the acquisition of Associated Power Structures Private Limited (formerly known as Associated Power Structures Limited).
These pacts are the Shareholders Agreement (SHA) as well as the Share Purchase and Subscription Agreement (SPSA).
The completion of the acquisition of Associated Power Structures Private Limited (formerly known as Associated Power Structures Limited) was planned to be completed by April 30, 2026, the filing said.
However, it stated that due to procedural requirements, the entire process, including the transfer (involving acquisition of existing securities) and allotment of securities (through fresh issuance), is expected to be completed by June 15, 2026.
As of now, WRTL does not have any shareholding in APSPL.
After the said acquisition, WRTL will have a 55 per cent shareholding in APSPL on a fully diluted basis, which would result in APSPL becoming a subsidiary of the company, WRTL said.
The total investment value for acquiring a 55 per cent stake in APSPL is Rs 1,225 crore, it stated.
Source: Economic Times