Waaree Energies to pick up 76% in smart electric meters company Racemosa for Rs 53 crore

Solar PV module maker Waaree Energies on Friday said it will acquire a 76% stake in Racemosa Energy India for ₹53 crore.

Founded in 2018, Racemosa Energy India is a Maharashtra-based manufacturer of smart electric meters.

Post the acquisition, Racemosa Energy India will become a step-down subsidiary of Waaree Energies.


Waaree Energies said in a regulatory filing that its primary objective for the acquisition is to integrate smart meters into its portfolio to strengthen its presence across the energy value chain.