New Delhi: Waaree Renewable Technologies Ltd (WRTL) said on Thursday it has signed definitive agreements to acquire a 55 percent stake in Associated Power Structures Pvt Ltd (APSPL) for Rs 1,225 crore. In a regulatory filing, the company said it has executed a Shareholders Agreement (SHA) and a Share Purchase and Subscription Agreement (SPSA) in relation to the acquisition of Associated Power Structures Private Limited, formerly known as Associated Power Structures Limited.
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The filing said the acquisition was initially planned to be completed by April 30, 2026. However, the company 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.”
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WRTL said it currently does not hold any shareholding in APSPL. “After the said acquisition, WRTL will have a 55 percent shareholding in APSPL on a fully diluted basis, which would result in APSPL becoming a subsidiary of the company,” the filing stated.
The company added that the total investment value for acquiring the 55 percent stake in APSPL stands at Rs 1,225 crore.