Waaree Energies’ board approves ₹293 Crore acquisition

20 May 2025 , 01:50 PM

On Tuesday, Waaree Energies share gained as much as 3% in its morning session to an intraday high of ₹3,036.80 per piece. This followed the company’s announcement of receiving board’s approval for acquisition of Kamath Transformers Pvt. Ltd. As per the company, the transaction value is fixed at ₹293 Crore.

At around 12.44 PM, Waaree Energies was trading 0.73% lower at ₹2,927 per piece, against the previous close of ₹2,948.40 on NSE. The counter touched an intraday high and low of ₹3,036.80 and ₹2,900, respectively.

The company stated that this acquisition is part of Waaree Energies’ business expansion objective. It plans to complete the transaction in the current fiscal year. The company plans acquisition of a 100% stake in Kamath Transformers on a cash consideration basis.

The business also said that Kamath Transformers is a well-established company engaged in transformer manufacturing. The company was set up on May 23, 1996. 

In the financial year ended March 2022, the business logged a turnover of ₹25.73 Crore.

Additionally, Waaree Energies also said that it has received the approval from board for acquisition of newly-established non-operating business Green New Delhi Forever Energy Pvt Limited via Waaree Forever Energies Pvt Ltd, a wholly-owned subsidiary of the company.

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