Waaree Energies Ltd. Approves Stake Acquisition and Announces Capex for Glass Manufacturing Plant
Waaree Energies Ltd. announced on March 24, 2026, that its Board of Directors approved the acquisition of an additional equity stake in its subsidiary, Waaree Transpower Private Limited (formerly Kotsons Private Limited). The company will increase its ownership from 64.04% to 75.10% through a cash consideration.The Board also approved a capital expenditure of Rs. 3900 crores for a glass manufacturing plant within its wholly-owned subsidiary, Waaree Green Glass Private Limited. The plant will have a capacity of 2500 TPD, and the investment will be funded through a mix of debt and internal accruals.
The acquisition of Waaree Transpower Private Limited, which designs, manufactures, and supplies advanced transformer solutions, is estimated to be completed by June 2026. The acquisition will involve a cash consideration of Rs. 75 per share, totaling Rs. 190 crore for 2.53 crore equity shares with a face value of Rs. 10 per share.
Waaree Transpower Private Limited was incorporated on April 22, 1978, and currently has a plant production capacity of 4,000 MVA. The company reported revenues of Rs. 16.45 crores in 2022-23, Rs. 8.47 crores in 2024-25, and Nil in 2023-24. The transaction qualifies as a related-party transaction and is being conducted at arm's length pricing.
| Particulars | Information |
|---|---|
| Cost of acquisition and/or the price at which the shares are acquired | Rs 75 per share having face value of Rs 10 per share. 2.53 crore Equity share of Rs. 75 amounting to Rs. 190 crore. |
| Percentage of shareholding / control acquired and / or number of shares acquired | 75.10% |
| Brief background about the entity acquired in terms of products/line of business acquired, date of incorporation, history of last 3 years turnover, country in which the acquired entity has presence and any other significant information (in brief); | WTPL was incorporated on April 22, 1978 in India and is in the business of designing, manufacturing and supplying transformers. It has a diverse array of transformer solutions, from Oil Filled and Dry Type to Special Purpose and Renewable Energy applications. WTPL's present plant production capacity is 4,000 MVA. |
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