Waaree Energies Ltd: Board Approves Sale of Wholly Owned Subsidiary and Acquisition of Four Non-Operating Companies

Waaree Energies Ltd announced that its Board of Directors approved the sale of shares of Waaneep Solar One Private Limited, a wholly owned subsidiary, to another wholly owned subsidiary, Waaree Forever Energies Private Limited. The sale will be carried out at an arms length price for a total consideration of Rs 100000. Additionally, Waaree Forever Energies Private Limited will acquire four non-operating companies for a cash consideration of Rs 1 Lakhs each at a face value of Rs 10/- per share divided into 10,000 Shares. These companies are Panch Bhuta Limited, Voltshift Energy Transition Private Limited, Impactgrid Renewables Private Limited, and Nezero Forever Renewables Private Limited. These acquisitions are expected to be completed in the FY 2025-26.