Waaree Renewable acquires 55% stake in Associated Power Structures for Rs 1,225 cr

New Delhi: Waaree Renewable Technologies on Thursday said it has acquired a 55 percent stake in Associated Power Structures Pvt Ltd (APSPL) for Rs 1,225 crore.

According to a regulatory filing, the company has acquired 55 percent equity shares of APSPL pursuant to the allotment of shares under the primary acquisition and transfer of shares under the secondary acquisition.

The total investment value for acquiring a 55 percent stake in APSPL was Rs 1,225 crore, it stated.


Consequent to the completion of the aforesaid acquisition, APSPL has become a subsidiary of Waaree Renewable Technologies, it stated.

Earlier in May this year, the company executed definitive agreements in relation to the acquisition of Associated Power Structures Pvt Ltd (formerly known as Associated Power Structures Ltd).

These pacts were the Shareholders Agreement as well as the Share Purchase and Subscription Agreement.

Earlier, Waaree Renewable Technologies did not have any shareholding in APSPL.