Waaree Energies Limited, India’s leading solar energy solutions provider, announced that its wholly owned subsidiary, Waaree Power Private Limited, will acquire a 76% stake in Racemosa Energy (India) Private Limited, a Maharashtra-based company engaged in the manufacturing of smart meters.
The Board of Directors of Waaree Energies approved the investment at its meeting held on September 18, 2025. The acquisition, valued at approximately ₹53 crore, will be executed through a cash consideration and is subject to definitive agreements, customary closing conditions, and regulatory approvals.
Following the completion of the transaction, Racemosa Energy will become a step-down subsidiary of Waaree Energies. Incorporated in 2018, Racemosa Energy has built expertise in developing and manufacturing smart metering solutions, a segment that plays a critical role in India’s evolving power and energy infrastructure.
Waaree Energies stated that the move is aimed at integrating smart meters into its portfolio to strengthen its presence across the entire energy value chain. By leveraging Racemosa’s smart metering capabilities, Waaree expects to enhance its offerings in the renewable energy and power distribution ecosystem.
The acquisition is expected to be completed during FY 2025–26, or within an extended timeline mutually agreed upon by both parties.