Shares of VA Tech WABAG surged 7.85% to ₹1,492.55 as of 9:52 AM on Friday after the company announced a non-binding $100 million equity partnership with an investor consortium, including Norfund, the Norwegian Government’s investment fund, to finance capital projects in the municipal water sector.
Details of the Partnership
- WABAG has signed a non-binding term sheet to create a dedicated investment platform (“Municipal Platform”) focused on municipal water projects.
- The platform will commit up to $100 million over 3 to 5 years for capital-intensive water infrastructure projects.
- WABAG will act as the technical partner, providing engineering, procurement, and construction (EPC) as well as operations and maintenance (O&M) services.
- The company will make a minority investment in the platform as part of its asset-light strategy.
- This partnership aims to drive sustainable water management solutions, leveraging AI-driven analytics and innovative treatment technologies.
Stock Performance as of 9:52 AM:
- Current Price: ₹1,492.55 (+7.85%)
- Open: ₹1,398.95
- High: ₹1,496.15
- Low: ₹1,391.90
- Previous Close: ₹1,383.90
- 52-Week High/Low: ₹1,944.00 / ₹678.00
Disclaimer: This article is for informational purposes only and should not be considered investment advice. Investors are advised to conduct their own research before making any financial decisions