Introduction:
Leading renewable energy company announced its acquisition of 100% of Enel Green Power India Private Limited for up to ₹792 crore, expanding its solar and wind energy portfolio and enhancing growth in the renewable sector.
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Share price movement of Waaree Energies:
On January 13, 2025, Waaree Energies Ltd opened at ₹2,556.65, down 0.38% from its previous close of ₹2,566.40. The stock reached a high of ₹2,648.00 (3.18%) and a low of ₹2,535.00. By 12:30 PM, it traded at ₹2,546.00, a 0.79% decrease, with a market cap of ₹73,110.70 crore.
Waaree Energies Acquires 100% Stake in EGPIPL:
Waaree Energies Limited has announced its acquisition of 100% of Enel Green Power India Private Limited (EGPIPL) for up to ₹792 crore. The deal, finalized on January 10, 2025, will further enhance Waaree’s renewable energy portfolio.
EGPIPL, with a capacity of 640 MWAC (760 MWDC) in solar and wind energy projects, will become a subsidiary of Waaree. This acquisition is expected to diversify revenue streams and accelerate Waaree’s growth in wind energy, strengthening its presence in India’s renewable sector.
The acquisition is subject to customary closing adjustments and approvals from lenders. It is expected to be completed within three months. Waaree will pay a cash consideration, with the final amount subject to closing adjustments.
Recent news on Waaree Energies:
As of January 02, 2025, Waaree Energies Ltd. has secured an order to supply 150 MWp of solar modules for a major renewable project in India. The contract includes their advanced Glass N-type Topcon bifacial modules.
Ace investor holding in Waaree Energies:
Kalpraj Damji Dharamshi H
Kalpraj Damji Dharamshi H holds a 2.32% stake in Waaree Energies Ltd, owning 6,673,420 shares. This investment reflects his significant position in the company, contributing to the growth and future prospects of Waaree Energies.
Het Paresh Mehta
Het Paresh Mehta holds a 1.22% stake in Waaree Energies Ltd, owning 3,500,000 shares. His investment underscores his involvement in the company, contributing to its development and strengthening its position in the renewable energy sector.
Madhuri Madhusudan Kela
Madhuri Madhusudan Kela holds a 1.16% stake in Waaree Energies Ltd, with 3,341,700 shares. Her investment highlights her significant role in the company’s growth and potential, supporting its continued success in the renewable energy sector.
Stock performance of Waaree Energies for Period of 1 week and 1 month:
Waaree Energies Ltd has seen a decline in performance, with a 6.44% drop over the past week and a significant 20.3% decrease over the last month. This indicates challenges, but the company remains a key player in the renewable energy sector.
Shareholding pattern of Waaree Energies:
| All values in % | Oct 2024 |
| Promoter | 64.30% |
| FII | 2.20% |
| DII | 3.00% |
| Public | 30.50% |
About Waaree Energies:
Waaree Energies Limited (NSE: WAAREEENER) is India’s largest solar PV module manufacturer, with an installed capacity of 13.3 GW. It holds a 21% market share domestically and 44% share in solar module exports as of FY24.
Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.
