Waaree Renewable Technologies Ltd (WRTL), a subsidiary of Waaree Energies Ltd, has taken a key step forward in its plan to invest in Smart Joules Private Ltd. The company has officially signed the main agreements needed for the deal and updated the timeline for completing the acquisition.
WRTL confirmed the execution of two critical agreements for its proposed investment in Smart Joules. These are the Share Subscription Agreement (SSA) and the Share Purchase Agreement (SPA), covering both the purchase of shares from current shareholders and the subscription to compulsory convertible preference shares (CCPS). This follows the earlier board discussions held on 17 July 2025, signalling strong progress towards closing the transaction.
Originally, WRTL intended to close the acquisition by 31 July. However, due to procedural steps, the company now expects the entire process, including the transfer and allotment of securities, to be completed by 30 August 2025. The Deed of Adherence (DoA) will be executed once the transaction wraps up.
Waaree Renewable Technologies Ltd, headquartered in Mumbai, is a leading solar EPC solutions provider and part of the Waaree Group. The company focuses on large-scale ground-mounted and rooftop solar power projects across India.
In recent months, it has secured significant EPC orders, including a 300 MW solar project in Rajasthan and an expanded 2,012 MWp project, reinforcing its position in the solar infrastructure space. Waaree Renewable’s profitability has also seen a sharp rise in FY26, driven by efficient execution and a robust project pipeline.
Also Read: Waaree Energies Q1 FY26 Earnings: Reported 93% Jump in Profit, Highest-Ever Solar Module Output!
As of August 1, 2025, at 9:44 AM, Waaree Renewable Technologies share price is trading at ₹1,053.20 per share, reflecting a gain of 0.68%. Over the past month, the stock has declined by 5.43%.
With major agreements in place and a new target date of 30 August, WRTL is well on track to complete its investment in Smart Joules. This move reflects the company's ongoing push into high-impact, energy-focused ventures.
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Published on: Aug 1, 2025, 12:01 PM IST
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