On Monday, Waaree Energies said its board has approved a plan to buy Kamath Transformers Private Ltd for about ₹293 crore. Kamath Transformers makes transformers, and this deal is part of Waaree’s efforts to grow its business.
The board also gave the green light for Waaree Forever Energies Private Limited, a fully owned part of Waaree Energies, to buy Green New Delhi Forever Energy Private Limited. This company will be bought at ₹1 lakh per share, even though the face value of each share is ₹10.
Waaree Energies plans to finish both deals in the financial year 2025–26. Both purchases will be paid for fully in cash. These steps are aimed at helping the company expand and strengthen its position in the energy and electrical equipment industry.