Waaree Renewable Technologies Limited (Waaree) has inked a binding term sheet to acquire around a 55 per cent stake in Associated Power Structures Limited. The transaction is valued at approximately Rs 12.25 billion and includes a combination of primary and secondary investments.
Furthermore, Singhi Advisors served as the exclusive strategic and financial advisor to Waaree and supported the structuring and execution of the deal. The acquisition is subject to due diligence and the satisfaction of standard closing conditions, with completion targeted by April 30, 2026. Upon completion of the transaction, Associated Power Structures Limited will become a subsidiary of Waaree.
Earlier this month, Waaree Energies Limited’s subsidiary, Waaree Energy Storage Solutions Private Limited, secured Rs 10.03 billion in funding from a group of strategic investors.
Furthermore, in the same month, Waaree Energies Limited secured a 1,500 MW solar module supply order from a domestic entity working in the business of power generation, transmission, and distribution.
