Waaree Energies Limited, one of India’s leading solar energy companies, has announced two major acquisitions aimed at strengthening its position in the renewable energy ecosystem and expanding into the power equipment segment.
In a regulatory filing, the company said that its Board of Directors, in a meeting held on September 2, 2025, approved the acquisition of a 64% stake in Kotson’s Private Limited (KPL) for a total consideration of ₹192 crore. Established in 1978, Kotson’s is engaged in the design, manufacturing, and supply of advanced transformer solutions, catering to diverse industries including renewable energy projects.
With this deal, Kotson’s Private Limited will officially become a subsidiary of Waaree Energies. The company highlighted that the acquisition would help in vertical integration, market expansion, and improved supply chain control, thereby enhancing product quality and strengthening its foothold in the electrical ecosystem.
Alongside this, Waaree Energies also approved the 100% acquisition of Impactgrid Renewables Private Limited, a step-down subsidiary, from its wholly owned arm Waaree Forever Energies Private Limited. Impactgrid is a newly incorporated company in the renewable energy sector and is currently non-operational.
Key highlights of the acquisitions include:
-
Kotson’s Pvt Ltd: Incorporated in April 1978, offers oil-filled, dry-type, special-purpose, and renewable energy transformers. Current production capacity stands at 4,000 MVA. Waaree Energies will acquire 2.56 crore shares at ₹75 per share, amounting to ₹192 crore, for a 64% stake.
-
Impactgrid Renewables Pvt Ltd: Fully acquired for a consideration of ₹1 lakh (10,000 shares at ₹10 each).
Both acquisitions are expected to be completed by September 30, 2025, subject to customary closing conditions.
