Waaree subsidiary acquires 24.21% of Eppeltone for ₹21.78 Cr

Waaree Energies Limited's step-down subsidiary, Waaree Smart Meters Private Limited, has acquired 24.21% of the equity share capital of Eppeltone Engineers Limited. The acquisition was completed through an off-market transaction on August 7, 2026, for approximately ₹21.78 crores. Eppeltone Engineers, established in 1977, specializes in manufacturing electronic energy meters, including smart meters, and various power conditioning devices. This strategic acquisition aims to integrate smart meters, thereby strengthening Waaree's presence across the energy value chain. The transaction is not considered a related party transaction. Eppeltone Engineers Limited reported a turnover of ₹134.74 crores for FY 2025-26.