Waaree Renewable Technologies to Acquire 55% Stake in Associated Power Structures for ₹1,225 Crore

Mumbai, January 26, 2026: Waaree Renewable Technologies Limited (WRTL) has announced that its board of directors has approved entering into a binding term sheet to acquire approximately 55% stake in Associated Power Structures Limited (ASPL) for a total consideration of about ₹1,225 crore, subject to completion of due diligence and customary closing conditions. The proposed acquisition will be carried out through a mix of primary and secondary transactions, and upon completion, ASPL will become a subsidiary of Waaree Renewable Technologies. The company expects to complete the transaction by April 30, 2026. Established in 1996, Associated Power Structures Limited operates in the power transmission and distribution segment, serving infrastructure projects across India and select international markets. For the financial year ended March 31, 2025, ASPL reported a turnover of ₹1,226.6 crore, net worth of ₹339.5 crore, and total assets of ₹834.1 crore, reflecting a steady scale-up in operations over the past few years. Waaree Renewable stated that the acquisition is part of its strategic growth initiative to strengthen its presence across the renewable energy and energy efficiency ecosystem. The company highlighted that ASPL’s business is complementary to its long-term vision of providing integrated clean energy solutions, while also enhancing execution capabilities in large-scale infrastructure projects. The transaction will be funded through cash consideration and does not qualify as a related-party transaction. The company also confirmed that none of its promoters or promoter group entities have any interest in ASPL. ⚠ Disclaimer: This article is for informational purposes only and does not constitute investment advice. Readers are advised to consult a SEBI-registered financial advisor before making any investment decisions. 👉 Follow for timely corporate updates, result analysis, and simplified market insights.