Waaree Renewable Technologies Ltd (WRTL) has taken an acquisition of 55 percent stake in Associated Power Structures Pvt Ltd (APSPL) at a cost of ₹1,225 crore, making the power transmission and distribution company its subsidiary through this deal.

This has been announced by the company in its regulatory filing. Acquisition was made via both the subscription to new equity and the purchase of shares from existing holders.

APSPL is a firm working in the power transmission and distribution infrastructure business segment. Founded in 1996, APSPL takes up EPC projects involving transmission lines, substations, and grid infrastructure.

The acquisition follows agreements signed between the two companies in May. These included a Shareholders' Agreement and a Share Purchase and Subscription Agreement. The transaction was completed after the required conditions and approvals were met.

Before the deal, WRTL held no stake in APSPL. Following the acquisition, APSPL has become a subsidiary of the company.

According to information disclosed earlier by WRTL, APSPL reported revenue of about ₹1,226.6 crore for the financial year ended March 31, 2025. The company’s net worth stood at approximately ₹339.5 crore during the same period.

This deal comes at a time when India is working on increasing its power transmission capability to meet the rising demands of electricity and accommodate renewable energy sources. Power transmission lines are critical in ensuring that electricity generated reaches the consumers and in linking renewable energy projects to the electricity network.

APSPL has executed transmission and distribution projects across multiple states and has experience in the construction of high-voltage transmission systems and substations.

WRTL had announced its intention to acquire the majority stake earlier this year. The transaction value was fixed at ₹1,225 crore and was subject to regulatory and procedural requirements before completion.

With the transaction now concluded, APSPL will operate as a subsidiary of Waaree Renewable Technologies. The company has not disclosed any additional details regarding operational integration or future business plans in its filing.

The acquisition expands WRTL’s presence in the broader power infrastructure sector, adding transmission and distribution capabilities to its portfolio through the majority ownership of APSPL.