Waaree Renewable Technologies to Acquire 55% Stake in Associated Power Structures for INR 1,225 Crores

Waaree Renewable Technologies Ltd. has approved a term sheet for the proposed acquisition of 55% stake in Associated Power Structures Limited (ASPL) for a total consideration of INR 1,225 crores. The acquisition is a mix of primary and secondary shares. ASPL, established in 1996, is in the business of Power transmission and distribution into the infrastructure sector. The acquisition will make ASPL a subsidiary of Waaree Renewable Technologies Ltd. The transaction is not a related party transaction and none of the promoter/promoter group/group companies have any interest in the entity being acquired. The acquisition is part of WRITL’s strategic initiative to expand its presence and strengthen its capabilities across the renewable energy and energy efficiency ecosystem.