M&A
Waaree Renewable to acquire 55% in EPC player Associated Power Structures for Rs.1,225-Cr
BSE Announcement Business Line
Publicly listed, Mumbai-based Waaree Renewable Technologies is to acquire 55% stake in Vadodara-based Associated Power Structures (APSL) for INR 1,225 crore through a mix of primary and secondary investments.Founded in 1996, APSL operates in the power transmission and distribution infrastructure sector. As of March 2025, the company reported a net worth of INR 339 crore and a turnover of INR 1,226 crore.APSL provides turnkey solutions-including foundations, fabrication, and installation-for projects up to 800 kV, focusing on high-speed wind turbine towers, substation structures, and solar mounting systems.
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