Waaree Renewable Technologies Limited has signed definitive agreements for the acquisition of Associated Power Structures Private Limited (APSPL), a transaction that will give the company a controlling 55% stake in the business.
The company has executed a Shareholders Agreement (SHA) and a Share Purchase and Subscription Agreement (SPSA) as part of the acquisition process involving APSPL, formerly known as Associated Power Structures Limited.
The transaction has been structured through a combination of purchase of existing equity shares from current shareholders and subscription to fresh shares issued by APSPL. After completion of the deal, APSPL will become a subsidiary of Waaree Renewable Technologies.
The agreements involve shareholders and promoters, including Satish Desai, Parag Kothari, Ajay Patel, Desai Family Trust, Kothari Family Trust, and Patel Family Trust.
Waaree Renewable Technologies currently does not own any stake in APSPL. Upon completion of the transaction, the company will hold a 55% stake on a fully diluted basis.
The total investment value for the acquisition has been fixed at ₹1,225 crore. Shares issued through the fresh allotment route will be categorised as Class B shares, while acquired existing shares will remain under Class A category.
The agreements also provide Waaree Renewable Technologies with shareholder rights including nomination of directors, participation rights in future share issuances and certain operational rights linked to APSPL’s business activities.
The acquisition was initially expected to close by April 30, 2026. However, the timeline has now been revised and the process is expected to be completed by June 15, 2026, due to procedural requirements linked to transfer and allotment of securities.
As of 08 May 2026, at 9:32 AM, Waaree Renewable Technologies Ltd share price is trading at ₹1,045.90 per share, reflecting a decline of 0.56% from the previous closing price.
The APSPL acquisition is expected to strengthen Waaree Renewable Technologies’ presence in the renewable energy and power infrastructure space as the company continues to expand through strategic investments and subsidiary-led growth.
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Published on: May 8, 2026, 10:10 AM IST
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