Shares of Waaree Energies Ltd saw a nice 3% bump, reaching an intraday high of ₹2,648 on January 13. The company just dropped some big news: it’s acquiring Enel Green Power India Private Ltd (EGPIPL) in a deal worth Rs 792 crore. This move is all about stepping up its game in the renewable energy space.
Why this deal is a big deal
Waaree Energies signed the agreement on January 10, 2025, and it’s a serious power play. Once the deal is done, EGPIPL will be fully owned by Waaree. This acquisition isn’t just about numbers—it’s about adding 640 MWAC (that’s 760 MWDC) of solar and wind energy to Waaree’s portfolio. Plus, EGPIPL’s projects, where it holds a majority stake, bring some extra oomph.
Enel Green Power’s already got a strong footing in India, and Waaree’s looking to build on that. This move helps them branch out into wind energy while growing their independent power producer (IPP) business. It’s a win-win that also makes Waaree more appealing for share market investment.
Waaree Energy stock’s market moves
On the market side, Waaree’s shares opened at ₹2,566.40 on the BSE. After the announcement, they climbed up to ₹2,648 before settling around ₹2,581.75. This isn’t the first time Waaree’s been in the spotlight. Their IPO in October 2024 was a showstopper, oversubscribed by 76.34 times and debuting at ₹1,503 per share—a whopping 66.3% premium.
Right now, Waaree has five manufacturing plants across India, from Gujarat to Uttar Pradesh. With EGPIPL on board, they’re aiming to cement their spot as a leader in renewable energy, a sector that’s becoming a hot topic in share market investment.
What’s next?
The deal isn’t done yet—they’re waiting on regulatory approvals and lender sign-offs. If all goes well, the transaction should wrap up in about three months. EGPIPL, which made Rs 266 crore in FY23, brings serious expertise and a solid solar and wind energy portfolio. For Waaree, this is more than just an acquisition; it’s a leap toward dominating India’s renewable energy scene.
All eyes are on Waaree Energies as they gear up to make waves in the renewable sector. At 12:39 PM on January 13, the price of Waaree Energies shares dropped to ₹2,547. Investors and market watchers alike are keeping tabs to see what’s next.
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