Waaree Renewable Technologies Limited will acquire approximately 55% of the equity share capital of Associated Power Structures Limited (ASPL) for roughly INR 1,225 crores. Associated Power Structures, established in 1996, specializes in power transmission and distribution. This acquisition is subject to due diligence and customary closing conditions, and will make ASPL a subsidiary of Waaree RTL.
Strategic Acquisition Announced
Waaree Renewable Technologies Limited has announced that it will enter into a binding term sheet to acquire approximately 55% stake in Associated Power Structures Limited (ASPL). The decision was made during the company’s board meeting held on January 26, 2026.
Deal Details
The total consideration for this acquisition is approximately INR 1,225 crores, comprised of both primary and secondary investments. Completion of the acquisition is contingent upon standard due diligence and customary closing procedures.
Target Company Information
Associated Power Structures Limited, established in 1996, operates in the power transmission and distribution sector, with a focus on infrastructure projects. Following the acquisition, ASPL will become a subsidiary of Waaree Renewable Technologies Limited.
Financial Overview of Associated Power Structures (2025)
- Net worth: INR 339.53 Crores
- Turnover (including other income): INR 1,226.64 Crores
- Total Assets: INR 834.15 Crores
Timeline and Approvals
The anticipated completion date for this acquisition is April 30, 2026. The acquisition will be completed via cash consideration.
Strategic Rationale
This investment supports WRTL’s strategic initiative to broaden its footprint and enhance its capabilities within the renewable energy and energy efficiency sector. ASPL’s operations are complementary and align with WRTL’s long-term strategy of integrated clean energy solutions.
Source: BSE
