Waaree Energies shares gain over 1.5%; here is what you need to know

Kotson’s Private Limited, established in 1978, is in the business of designing, manufacturing and supplying advanced transformer solutions, a regulatory filing stated.

According to the filing, the board on Tuesday approved the proposal of Waaree Energies Ltd to enter into a Share Subscription and Shareholders Agreement for the acquisition of 64% of the share capital of Kotson’s for a total consideration of ₹192 crores, subject to customary closing conditions.

The cost of acquisition is ₹75 per share, having a face value of ₹10 per share. That is 2.56 crore shares for a total consideration of ₹192 crore.

It has a diverse array of transformer solutions, from oil-filled and dry-type to special-purpose and renewable-energy applications. KPL’s present plant production capacity is 4,000 MVA.

Further, Waaree Energies stated that pursuant to the acquisition of shares, Kotson’s Pvt Ltd will become a subsidiary of the company.

The board also approved the acquisition of 100% shareholding of Impactgrid Renewables Private Limited (step-down subsidiary) from Waaree Forever Energies Pvt Ltd (wholly owned subsidiary).

Waaree Energies AGM Date

In a separate filing, the company released its AGM schedule. It said that the 35th annual general meeting (AGM) of the members of Waaree Energies is scheduled to be held on Wednesday, September 24, 2025, at 11.00 A.M. (IST) through Video Conferencing ('VC') facility / other audio-visual means ('OAVM').

Waaree Energies Q1 FY26 Results

Waaree Energies posted a nearly 93% rise in its net profit to ₹773 crore in the June quarter (Q1 FY26) compared to the year-ago period, mainly on the back of higher revenues.

The company had reported a net profit of ₹401.13 crore in the same quarter a year ago, a statement said.

Total revenues rose to ₹4,597.18 crore in the quarter from ₹3,496.41 crore seen in the same period a year ago.

The company said it achieved the highest quarterly module production of 2.3 GW in the first quarter of FY26, driven by strong operational focus, and cell production continues to ramp up.

The Board of Directors also approved an additional capital expenditure (capex) of ₹2,754 crore for the expansion of cell capacity by 4 GW in Gujarat and ingot-wafer by 4 GW in Maharashtra.

The capex will be spread over FY 2026-27 and will be financed through a combination of internal accruals and borrowed capital.

Waaree Energies listing and IPO details

Shares of solar panel maker Waaree Energies Ltd on October 28, 2024, listed with a premium of nearly 70% against the issue price of ₹1,503.

The stock made its market debut at ₹2,550, reflecting a jump of 69.66% from the issue price on the BSE. It further surged 72.98% to ₹2,600.

On the NSE, the stock listed at ₹2,500, surging 66.33%.

The initial public offering (IPO) of Waaree Energies garnered 76.34 times subscription on the last day of share sale, helped by strong participation from institutional buyers.

The ₹4,321.44 crore initial share sale had a price band of ₹1,427 to ₹1,503 per share.

The IPO was a combination of a fresh issue of equity shares aggregating to ₹3,600 crore and an Offer-for-Sale (OFS) of 48 lakh equity shares worth ₹721.44 crore, at the upper end of the price band, by a promoter and existing shareholders.

About Waaree Energies

Waaree Energies is one of the major players in the solar energy industry in India. It is focused on PV module manufacturing.

It operates five manufacturing facilities with one factory each, located at Surat, Tumb, Nandigram and Chikhli in Gujarat, and the IndoSolar Facility, in Noida, Uttar Pradesh.