M&A
Solar cells player Waaree acquires 76% stake in smart meter seller Racemosa for Rs.53-Cr
BSE Announcement Business Line
Mumbai-based manufacturer of solar photovoltaic (PV) modules Waaree Energies through its subsidiary Waaree Power Pvt Ltd, has acquired a 76% stake in Nashik, Maharashtra-based Racemosa Energy (India) Pvt Ltd for INR 53 crore in cash.Incorporated in 2018, Racemosa makes single-phase static energy meters, three-phase static energy meters, electrical controllers and IoT devices.
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