Waaree Energies gets board nod to acquire Kamath Transformers for Rs 293 cr

New Delhi, May 19 (PTI) Waaree Energies on Monday said the company's board has approved a proposal to acquire Kamath Transformers Private Ltd for around Rs 293 crore.

Kamath Transformers is in the business of manufacturing transformers.

"This acquisition is done as part of its business expansion activity," Waaree Energies said in an exchange filing.

The board also approved acquisition of Green New Delhi Forever Energy Private Limited by Waaree Forever Energies Private Limited, a wholly-owned subsidiary of Waaree Energies.

It will be acquired for Rs 1 lakh per share at a face value of Rs 10 each, the filing said.

Waaree Energies expects to complete both the acquisitions in FY26 in all-cash consideration. PTI ABI HVA