Waaree Energies has approved a capital investment of INR 39 billion to set up a solar glass factory with a capacity of 2,500 tonnes per day. The facility will be developed through its wholly owned subsidiary, Waaree Green Glass, and financed through a mix of debt and internal accruals.
The company’s board of directors also approved the acquisition of an additional equity stake in its subsidiary Waaree Transpower (formerly Kotsons), increasing its equity stake from 64.04% to 75.10%.
The transaction, valued at approximately INR 1.9 billion, will be executed through a cash consideration of INR 75 per share (face value INR 10), for the acquisition of approximately 25.3 million shares. The deal is expected to close in June 2026.
Waaree Transpower designs, produces and supplies advanced transformer solutions. The company said the additional stake will support capacity expansion and capital expenditure.
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