Waaree Renewable Technologies Limited (WRTL) has approved a binding term sheet to acquire around 55 percent stake in Associated Power Structures Limited (ASPL) for a total consideration of about INR 1,225 crore. The transaction will be executed through a mix of primary and secondary investment and is subject to due diligence and customary closing conditions.
Founded in 1996, ASPL operates in the power transmission and distribution infrastructure segment and has built a strong execution track record across India and select international markets. For the financial year ended March 31, 2025, ASPL reported turnover including other income of INR 1,226.64 crore and a net worth of INR 339.53 crore. Following completion of the transaction, ASPL will become a subsidiary of WRTL.
The acquisition marks a key step in Waaree’s evolution into an integrated energy transition company. By expanding beyond renewable power generation into grid and transmission infrastructure, the company aims to strengthen capabilities that are critical for enabling large-scale renewable energy deployment across India.
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