The board has cleared the acquisition of additional equity in Waaree Transpower, taking its shareholding from 64.04% to 75.10%.
The acquisition will be carried out through a cash consideration of around Rs 190 crore at Rs 75 per share. The company expects to complete the stake acquisition by June 2026.
The move is aimed at supporting capacity expansion and strengthening the company’s transformer business.
Waaree Transpower is engaged in designing and manufacturing transformer solutions, with a current production capacity of 4,000 MVA.
In addition, the board has approved a capital expenditure of Rs 3,900 crore for setting up a glass manufacturing plant. The plant will be developed under its wholly owned subsidiary, Waaree Green Glass, with a planned capacity of 2,500 tonnes per day. The capex will be funded through a mix of debt and internal accruals.
Mumbai-based Waaree Energies is a renewable energy company with advanced manufacturing facilities and a total solar PV module capacity of about 22.3 GW globally, along with solar cell capacity of up to 5.4 GW. With a presence across India and over 25 countries, the company offers a comprehensive portfolio spanning solar panel and inverter manufacturing, EPC services, green hydrogen solutions, battery energy storage systems, green energy infrastructure and data centres.
On a consolidated basis, the company reported a 115.64% YoY jump in net profit to Rs 1,062.46 crore in Q3 FY26, compared with Rs 492.69 crore in the same quarter last year. Revenue from operations surged 118.81% YoY to Rs 7,565.05 crore for the quarter ended 31 December 2025.