Waaree Energies Limited announced key board approvals following its meeting on March 24, 2026. The company will acquire an additional equity stake in its subsidiary, Waaree Transpower Private Limited (WTPL), raising its holding from 64.04% to 75.10%. Furthermore, the Board sanctioned a substantial Rs. 3900 crore Capital Expenditure for establishing a 2500 TPD glass manufacturing plant in a wholly-owned subsidiary, funded by debt and internal accruals.
Key Decisions from Waaree Energies Board Meeting
The Board of Directors of Waaree Energies Limited convened on March 24, 2026, concluding its proceedings at 03:45 p.m., to approve significant strategic actions related to its subsidiaries and future capacity expansion.
Enhancing Control over Waaree Transpower
The first major approval concerns the acquisition of an additional equity stake in the subsidiary, Waaree Transpower Private Limited (formerly Kotsons Private Limited or “WTPL”).
- The shareholding interest is set to increase from the existing 64.04% (as previously intimated on October 07, 2025) to 75.10% of the paid-up equity share capital.
- This transaction is classified as a Related Party Transaction but is confirmed to be executed at arm’s length pricing.
- WTPL, incorporated in 1978, focuses on designing, manufacturing, and supplying diverse transformer solutions, including Oil Filled and Dry Type, with a current plant capacity of 4,000 MVA.
- The acquisition consideration is set at Rs 75 per share (face value of Rs 10), totaling Rs. 190 crore for the 2.53 crore Equity shares being acquired.
- The indicative completion period for this stake purchase is slated for June 2026.
- WTPL reported turnovers of 16.45 crores (2022-23) and 8.47 crores (2024-25), with Nil turnover recorded for 2023-24.
Major Green Capex Sanctioned
The Board also sanctioned a significant Capital Expenditure plan aimed at expanding the company’s core manufacturing capabilities.
- A total capital outlay amounting to Rs. 3900 crores has been approved.
- This Capex is dedicated to establishing a new glass manufacturing plant within its wholly owned subsidiary, Waaree Green Glass Private Limited.
- The new facility is planned to have a significant capacity of 2500 TPD (Tonnes Per Day).
- The financing strategy for this massive investment will involve a mix of Debt and Internal accruals.
- The objective of this acquisition and expansion is to enable substantial capacity expansion and meet capital expenditure requirements for the group’s primary business line.
This information has been made available on the company’s official website, www.waaree.com.
Source: BSE
