Waaree Energies shares in focus as board approves ₹3,900 capex in glass manufacturing plant

In a regulatory filing dated March 24, the company stated that it will fund the capex through a mixture of debt and internal accruals.

The Mumbai-headquartered firm’s board, at its meeting on Tuesday, also approved the acquisition of an additional equity stake in its subsidiary, Waaree Transpower Pvt Ltd, formerly known as Kotsons Private Limited, for an aggregate of ₹190 crore.

With the acquisition, Waaree Energies’ shareholding in the subsidiary will surge from the current 64.04% to 75.10% of the paid-up equity share capital.

The company will acquire an additional 2.53 crore equity shares of ₹75 per unit, with a face value of ₹10 each, through cash consideration.

The additional acquisition, which will be completed by June 2026, will enable capacity expansion and capital expenditure requirements.

Since Waaree Transpower Pvt Ltd is a subsidiary of Waaree Energies, the acquisition will fall under related party transactions and thus be done at arm's length pricing, as per the filing.

Waaree Energies recent update

In a regulatory filing dated March 11, the company said that its wholly-owned unit, Waaree Solar Americas Inc, entered into a share subscription agreement with United Solar Holdings for the subscription of 53,68,551 series B preferred shares for $30 million.

"The transaction is not a related party transaction. None of the company’s promoter/promoter group / other group companies has any interest in the above transaction," Waaree Energies said.

Last month, the company had secured a Letter of Award from Solar Energy Corporation of India to develop a 300 MW wind power project in Dwarka, Gujarat.

Waaree Energies share performance

Shares of Waaree Energies 0.72% higher at ₹3,086.70 per unit on the National Stock Exchange (NSE) on Tuesday. However, the announcement was made after the market closed.

The stock surged 7% in the past week and 2% over the month. On a year-to-date basis, it has advanced more than 4%.

While the scrip hit a 52-week high of ₹3,865 on September 12, 2025, it touched a year’s low of ₹1,863 per equity share on April 7, 2025.

Waaree Energies has a total market capitalisation of ₹88,765.98 crore, as of March 24, 2026, according to data on the NSE.