Waaree Renewable completes acquisition of 55% stake in APSPL
Waaree Renewable Technologies Limited (WRTL) has completed the acquisition of a 55% equity stake in Associated Power Structures Private Limited (APSPL), formerly known as Associated Power Structures Limited, resulting in APSPL becoming its subsidiary.
In a regulatory filing, the company said the acquisition was executed through a combination of primary allotment and secondary transfer of shares.
The completion follows earlier disclosures made on January 26, 2026, and subsequent updates issued on May 7, 2026, and June 15, 2026.
In May 2026, WRTL signed definitive agreements to acquire a 55% stake in APSPL for Rs 1,225 crore. The company had stated that APSPL would become its subsidiary upon completion of the transaction.
The acquisition expands WRTL’s presence in the power transmission and renewable energy supply chain through the addition of a manufacturing and EPC platform.
APSPL’s business operations
Incorporated in 1996, APSPL operates as an integrated manufacturing and Engineering, Procurement and Construction (EPC) company. The company designs and manufactures lattice structures for the power transmission and distribution, wind energy, solar energy and telecommunications sectors.
APSPL’s operations are divided into three business segments. The power transmission and distribution segment focuses on transmission and distribution infrastructure. The renewable energy segment includes renewable energy-related job works. The third segment comprises telecommunication towers, fabrication and galvanising of lattice steel structures.
Strategic expansion
The acquisition provides WRTL access to APSPL’s manufacturing capabilities and EPC expertise across transmission, renewable energy and telecom infrastructure segments. The transaction also strengthens the company’s presence in transmission structures and related infrastructure supporting the power sector.
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