Waaree Energies’ Board Approves Acquisition of Kamath Transformers for INR 293 Crore
Waaree Energies has approved the acquisition of Kamath Transformers for approximately INR 293 crore and Green New Delhi Forever Energy for INR 1 lakh as part of its business expansion and IPP project strategy. Both deals are set to close in FY 2025-26.
May 20, 2025. By Mrinmoy Dey
Kamath Transformers is in the business of manufacturing transformers. “This acquisition is done as part of its business expansion activity,” said Waaree Energies in a regulatory filing.
It further added that the acquisition will be completed in FY 2025-26.
The company’s Board of Directors has also approved the acquisition of Green New Delhi Forever Energy by Waaree Forever Energies, a wholly-owned subsidiary of Waaree Energies.
It will be acquired for INR 1 lakh at a face value of INR 10 per share, divided into 10,000 equity shares of the company, stated the company in the regulatory filing.
“It is acquired solely for the purpose of facilitating and holding specific power projects under the IPP framework,” it said. This acquisition, too, will be completed in FY 2025-26.
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