Introduction:
Leading green energy company has secured a 55% stake in Ewaa Renewable Techno Solutions through a strategic agreement. This acquisition reinforces its dedication to expanding its renewable energy portfolio and promoting sustainable energy solutions across India.
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Share price movement of Waaree:
On December 16, 2024, Waaree Energies Ltd opened at ₹3,228.25, down 1.14% from its previous close of ₹3,216.80. The stock reached a high of ₹3,258.30 and a low of ₹3,177.00. As of 10:12 AM, it traded at ₹3,180.00, with a market cap of ₹91,356.06 crore.
Waaree acquires Ewaa stake:
Waaree Energies Limited, through its wholly-owned subsidiary Waaree Power Private Limited (WPPL), has announced the acquisition of a 55% stake in Ewaa Renewable Techno Solutions Private Limited (ERTSPL). The deal involves a Share Subscription cum Shareholders Agreement (SSSA).
The agreement, signed with ERTSPL and its existing shareholders, Mr. Rajjat Kumar Bothra and Mr. Nitin Bothra, marks a significant step for Waaree in expanding its renewable energy portfolio. The company received information about the transaction on December 15.
The details of the acquisition are outlined in compliance with SEBI’s Listing Obligations and Disclosure Requirements Regulations, 2015, and related guidelines. This strategic move aligns with Waaree’s commitment to advancing sustainable energy solutions in India.
Recent news on Waaree:
As of December 11, 2024, Waaree Energies’ subsidiary, Waaree Forever Energies, secured a Letter of Award from Rewa Ultra Mega Solar Ltd to develop a 170 MW solar power plant in Madhya Pradesh, advancing India’s renewable energy goals.
Stock performance of Waaree for Period of 1 week and 1 month:
Waaree Energies has showcased impressive short-term growth with an 8.27% return over the past week and a 10.3% return over the last month, reflecting strong market performance and growing investor confidence in the company.
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Shareholding pattern of Waaree:
| All values in % | Oct 2024 |
| Promoter | 64.30% |
| FII | 2.20% |
| DII | 3.00% |
| Public | 30.50% |
About Waaree:
Waaree Energies Limited (NSE: WAAREE) is India’s largest manufacturer of solar PV modules, with a 12 GW installed capacity. The company specializes in manufacturing solar modules, setting up projects, and selling electricity, with multiple manufacturing facilities across India.
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.
