The board of Waaree Renewable Technologies at its adjourned meeting held on 26 January 2026, has, inter alia, considered and approved to enter into a binding term sheet for acquisition of ~55% of the stake in the equity share capital of Associated Power Structures (ASPL) for a total consideration of Rs 1,225 crore mix of primary & secondary, subject to completion of due diligence and customary closing conditions.

Associated power Structures established in 1996, is in the business of Power transmission and distribution into infrastructure sector. Further, pursuant to the above acquisition of shares, Associated Power Structures will become a subsidiary of the Company.