Mumbai, January 27, 2026 – Waaree Renewable Technologies Limited (BSE: 534618 | NSE: WAAREERTL) on Tuesday approved a binding term sheet to acquire around 55 percent equity stake in Associated Power Structures Limited, marking a major strategic move into the power transmission and distribution segment.
The proposed transaction involves a total consideration of approximately ₹1,225 crore, structured through a mix of primary and secondary purchases. Upon completion, Associated Power Structures will become a subsidiary of Waaree Renewable Technologies.
Deal Snapshot
| Particulars | Details |
|---|---|
| Target company | Associated Power Structures Limited |
| Stake to be acquired | ~55% |
| Total consideration | ~₹1,225 crore |
| Structure | Mix of primary and secondary acquisition |
| Mode of payment | Cash |
| Expected completion | By April 30, 2026 |
About Associated Power Structures
Founded in 1996, Associated Power Structures operates in power transmission and distribution within the infrastructure sector, with execution presence across multiple countries.Financial Overview of Associated Power Structures
| ₹ crore | FY25 |
|---|---|
| Net worth | 339.53 |
| Turnover (including other income) | 1,226.64 |
| Total assets | 834.15 |
Revenue Trend
| Financial Year | Turnover (₹ crore) |
|---|---|
| FY25 | 1,216.91 |
| FY24 | 619.76 |
| FY23 | 416.80 |
Transaction Status
- The acquisition remains subject to completion of due diligence and customary closing conditions.
- The board meeting that approved the proposal was held on January 26, 2026.
About Waaree Renewable Technologies Limited
Waaree Renewable Technologies Limited is a listed renewable energy solutions provider and a subsidiary of Waaree Energies Limited. The company is engaged in solar EPC, renewable power generation, and allied clean energy services, with a focus on scaling integrated and sustainable energy solutions across India and international markets.Source:
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