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Waaree Renewable Technologies Ltd ( (IN:WAAREERTL) ) just unveiled an announcement.
Waaree Renewable Technologies Ltd has approved entering into a binding term sheet to acquire approximately 55% of Associated Power Structures Ltd (ASPL) for about Rs 1,225 crore in a mix of primary and secondary share purchases, subject to due diligence and customary closing conditions. Established in 1996, ASPL operates in power transmission and distribution within the infrastructure sector, and will become a subsidiary of Waaree Renewable Technologies upon completion, marking a strategic move to expand Waaree’s footprint and strengthen its capabilities across the broader renewable and energy efficiency value chain through a complementary business aligned with its long-term integrated clean energy strategy.
More about Waaree Renewable Technologies Ltd
Waaree Renewable Technologies Ltd, a subsidiary of Waaree Energies Ltd, operates in the renewable energy sector, focusing on clean energy and energy efficiency solutions. The company aims to build an integrated presence across the renewable energy ecosystem, leveraging strategic investments to broaden its capabilities and market reach.
Average Trading Volume: 86,057
Technical Sentiment Signal: Hold
Current Market Cap: 91.64B INR
For a thorough assessment of WAAREERTL stock, go to TipRanks’ Stock Analysis page.