Waaree to Acquire 55 per cent of Associated Power Structures

15 May 2026 CW Team

As structured, Waaree Renewable Technologies will acquire shares from existing shareholders of the target and will subscribe to fresh equity issued by the company, a combination that the acquirer said will make Associated Power Structures a subsidiary upon completion. The valuation for the fresh share issuance will be determined through a fair market assessment by a registered valuer, and the participating parties include promoters and family trusts of the target alongside the acquiring entity.

The transaction timetable was initially targeted for completion by April 30, 2026, but the process is now expected to conclude by June 15, 2026 because of procedural formalities related to transfer and allotment of securities. Associated Power Structures operates in the power infrastructure segment, providing transmission structures, substation works and related engineering services linked to the energy sector, and the acquisition is expected to bolster operational capabilities in these specific areas.

Observers said the move forms part of a broader corporate strategy by Waaree to deepen its presence beyond solar manufacturing and EPC into transmission and power infrastructure, strengthening capacity for renewable energy evacuation and grid?linked infrastructure. The development aligns with an industry trend in which energy companies are expanding into adjacent segments such as transmission infrastructure, energy storage and integrated power systems to capture opportunities from the accelerating renewable transition in India.

"Join industry leaders at RAHSTA Expo, India's premier platform for roads, highways and traffic infrastructure. Register now to explore innovations, network with experts and shape the future of mobility."

Waaree Renewable Technologies Limited, the engineering, procurement and construction arm of the Waaree Group, is set to acquire a 55 per cent stake in Associated Power Structures Private Limited in a transaction valued at Rs 12.25 billion (bn). The company informed stock exchanges that it has signed definitive agreements for the transaction, including a shareholders agreement and a share purchase and subscription agreement, and that the deal will combine share purchase from existing holders with issuance of fresh equity. As structured, Waaree Renewable Technologies will acquire shares from existing shareholders of the target and will subscribe to fresh equity issued by the company, a combination that the acquirer said will make Associated Power Structures a subsidiary upon completion. The valuation for the fresh share issuance will be determined through a fair market assessment by a registered valuer, and the participating parties include promoters and family trusts of the target alongside the acquiring entity. The transaction timetable was initially targeted for completion by April 30, 2026, but the process is now expected to conclude by June 15, 2026 because of procedural formalities related to transfer and allotment of securities. Associated Power Structures operates in the power infrastructure segment, providing transmission structures, substation works and related engineering services linked to the energy sector, and the acquisition is expected to bolster operational capabilities in these specific areas. Observers said the move forms part of a broader corporate strategy by Waaree to deepen its presence beyond solar manufacturing and EPC into transmission and power infrastructure, strengthening capacity for renewable energy evacuation and grid?linked infrastructure. The development aligns with an industry trend in which energy companies are expanding into adjacent segments such as transmission infrastructure, energy storage and integrated power systems to capture opportunities from the accelerating renewable transition in India.

Real Estate

14 Jul 2026

Paradigm Realty secures Rs 1 billion for Chembur project

Paradigm Realty Group has secured Rs 1 billion in funding from Arnya RealEstates Fund for its flagship residential project, 71 Midtown, in Chembur, Mumbai.The institutional investment will be used to support the completion of Phases 1 and 2 of the development, with the financing aligned to the project's construction and delivery schedule.Spread across approximately 4.5 acres, the gated residential community comprises one- and two-bedroom apartments. Located near Sindhi Society in Chembur, the project offers connectivity to the Bandra Kurla Complex (BKC) and is expected to benefit from infrastr..

Real Estate

14 Jul 2026

PCPL delivers 1.4 million sq ft, eyes 2.1 million sq ft pipeline

Pranav Constructions (PCPL) has delivered more than 1.4 million sq ft of redeveloped residential space across Mumbai as of March 2026, while outlining a future pipeline exceeding 2.1 million sq ft across key redevelopment markets.Over the past decade, the Mumbai-based developer has completed 28 redevelopment projects, benefiting more than 2,450 families across the city's western suburbs, including Borivali, Kandivali, Malad and Goregaon. Since 2023, the company has expanded into neighbourhoods such as Santacruz, Bandra, Andheri and Vile Parle, while also entering heritage precincts including M..

Products

14 Jul 2026

Shalimar Paints launches premium Xtra Tough Hi-Sheen

Shalimar Paints has expanded its premium product portfolio with the launch of Xtra Tough Hi-Sheen, a new exterior emulsion developed to provide enhanced weather protection and a high-sheen finish for residential buildings.The company said the product is designed to address growing consumer demand for exterior coatings that combine aesthetics with long-term durability. Suitable for both new construction and renovation projects, the emulsion is formulated to withstand varied climatic conditions, including heat, rain, humidity and pollution.Xtra Tough Hi-Sheen features a dust-repellent coating in..