Waaree Renewable Technologies announced on Thursday that it has signed agreements to acquire a 55 percent stake in Associated Power Structures Pvt Ltd for ₹1,225 crore.
In a regulatory filing, the company detailed that it has executed definitive agreements related to this acquisition, which include the Shareholders’ Agreement (SHA) and the Share Purchase and Subscription Agreement (SPSA).
The acquisition of Associated Power Structures Pvt Ltd, previously known as Associated Power Structures Ltd, is targeted for completion by April 30, 2026. However, the company indicated that, due to procedural requirements, the entire process—comprising the transfer of existing shares and the issuance of new securities—is now expected to conclude by June 15, 2026.
Currently, Waaree Renewable Technologies holds no shares in Associated Power Structures Pvt Ltd. Following the completion of this acquisition, Waaree will own 55 percent of the company on a fully diluted basis, resulting in Associated Power Structures becoming a subsidiary of Waaree.
The overall investment for this 55 percent stake is set at ₹1,225 crore.
Published on May 7, 2026.
