Waaree Renewable Technologies Limited (WRTL), a subsidiary of Waaree Energies Limited, announced today, January 26, 2026, that its Board of Directors has approved entering into a binding term sheet for the acquisition of approximately 55% of the equity share capital of Associated Power Structures Limited (ASPL). The total consideration for this acquisition is approximately ₹1,225 crore, comprising a mix of primary and secondary components. This transaction is subject to the completion of due diligence and customary closing conditions. ASPL, established in 1996, operates in the power transmission and distribution infrastructure sector. Upon completion of the acquisition, ASPL will become a subsidiary of WRTL. The company's net worth was ₹339.53 crore, with a turnover of ₹1,226.64 crore and total assets of ₹834.15 crore as of March 31, 2025. For the fiscal year 2024-25, ASPL reported a turnover of ₹1,216.91 crore. This investment is a strategic initiative by WRTL to expand its presence and strengthen its capabilities within the renewable energy and energy efficiency ecosystem. ASPL's operations are in a complementary sector, aligning with WRTL's long-term vision for integrated clean energy solutions. The acquisition is not a related party transaction, and no promoter or group companies have an interest in ASPL. The indicative time period for the completion of the acquisition is April 30, 2026. The consideration will be paid in cash.
