Waaree Energies Subsidiary to Acquire 76% Stake in Racemosa Energy for ₹53 Crore

Mumbai, September 19, 2025: In its recent regulator filing, Waaree Energies Ltd (NSE: WAAREEENER, BSE: 544277) announced that its wholly owned subsidiary, Waaree Power Private Limited, will acquire a stake in Racemosa Energy (India) Private Limited.

Waaree Energies Ltd is headquartered in Mumbai and is a prominent player in India’s renewable energy sector. The company is listed on NSE and BSE under the ticker WAAREE and 544277, respectively and specializes in manufacturing solar PV modules and providing comprehensive energy solutions. Its offerings include EPC services, project development, and solar products, catering to both commercial and residential customers. Waaree Energies has established a strong presence in India’s growing clean energy market.

Acquisition Details

The acquisition of the target entity, Racemosa Energy (India) Private Limited, is to be done at a cost of ₹53 crore in cash. Waaree will acquire a 76% stake in

Racemosa Energy. The timeline for the acquisition is set for FY 2025-26; however, it is subject to extension if the same is agreed upon. The transaction is not a related party transaction.

Racemosa Energy

Racemosa Energy is a smart meter manufacturer. Following the acquisition, Racemosa Energy will become a step-down subsidiary of Waaree Energies, subject to closing conditions. The company was incorporated in 2018 in Maharashtra and is engaged in the business of manufacturing smart meters and has recorded steady operations in recent years.

Stock Reaction

As of September 19, 2025, 1:51 pm, shares of Waaree Energies Limited were trading at ₹3,503.90, up by 3.50 points, a 0.10% increase. The company had an overall traded volume of 12.39 lakh shares while its total traded value and total market cap stood at ₹434.11 crore and ₹1,00,626.69 crore, respectively.

REF: https://nsearchives.nseindia.com/corporate/WAAREE_18092025211506_RacemosaIntimation_signed.pdf

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