Waaree Energies’ shares increased by 0.22% to ₹3,508 during Friday’s afternoon trading after the company announced that its board approved a plan for its subsidiary, Waaree Power Private Limited, to acquire a 76% stake in Racemosa Energy (India) Private Limited, a manufacturer of smart meters.
Valued at approximately ₹53 crore, the acquisition will position Racemosa Energy as a step-down subsidiary of Waaree Energies once all closing conditions are met. This transaction is set to go through upon execution of definitive agreements, customary closing conditions, and regulatory approvals, with completion aimed for FY 2025-26.
Racemosa Energy, established in 2018 in Maharashtra, focuses on the production of smart meters. Through this acquisition, Waaree Energies intends to incorporate smart meters into its operations, thereby enhancing its presence across the energy value chain and diversifying beyond its primary solar manufacturing business.
The stock commenced trading at ₹3,510, compared to the previous close of ₹3,500.40, reaching a peak of ₹3,533 and a low of ₹3,470.20 during the session. By afternoon, trading volume reached 10.42 lakh shares, resulting in a traded value of ₹365.14 crore, while the company’s total market capitalization was reported at ₹1,00,778.95 crore.
Yes Securities recently began coverage of Waaree Energies with a ‘Buy’ rating and a target price of ₹4,610. The firm cites the company’s status as India’s largest solar PV module manufacturer, holding over 13.3 GW in module capacity. Yes Securities anticipates substantial capacity expansion to enhance growth, with a target of 25.7 GW modules by FY27.
The renewable energy sector is currently a focal point, as India’s GDP is projected to grow at a CAGR of 6-6.5% by 2030, driven by significant energy consumption increases. While the role of coal and petroleum is expected to diminish, renewables are poised for rapid growth, with solar power leading the transition to clean energy. The Indian government’s ambitious goal of achieving 900GW in renewable capacity by FY32 is likely to benefit major integrated players such as Waaree.
This article was published on September 19, 2025.
