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

Waaree Renewable Technologies Ltd. has approved the acquisition of approximately 55% of the stake in Associated Power Structures Ltd. (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. Post-acquisition, ASPL will become 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 Waaree's strategic initiative to expand its presence and strengthen its capabilities across the renewable energy and energy efficiency ecosystem.