VA Tech Wabag shares surge 9% intraday on $100 million partnership for municipal platform; check details

As per the exchange announcement, the municipal platform will commit equity investment of up to $100 million in capital projects over a 3 to 5-year period. This new platform will be established in collaboration with an investor consortium including Norfund and two other international investors. Norfund is the Norwegian Government’s investment fund dedicated to supporting sustainable development.

VA Tech Wabag will play a pivotal role in this new platform as the technical partner, offering EPC (Engineering, Procurement, and Construction) and O&M (Operations and Maintenance) services for the order wins grabbed under this new platform. Meanwhile, VA Tech Wabag will also make a minority investment in the platform, consistent with its asset-light strategy.

As per the company, the proposed platform will focus on addressing the growing demand for advanced water treatment technologies and infrastructure. The Municipal Platform will target key opportunities in the municipal sector, supporting sustainable water management and contributing to economic development.

Following the announcement, VA Tech Wabag shares saw strong investor traction, rising over 9%. Meanwhile, the stock is up nearly 15% so far this month amid a recovery in the broader markets.

VA Tech Wabag is one of the leading players in water technology, offering innovative and sustainable solutions for both municipal and industrial sectors. The company delivers end-to-end water solutions, tailored to meet diverse customer needs across the globe. In Q3 FY25, the company reported an 11.1% YoY rise in its net profit to ₹70 crore, while its revenue from operations rose 15.1% YoY to ₹811 crore.