Waaree Energies Limited has announced the incorporation of two new subsidiaries through its wholly-owned subsidiary company. The solar energy equipment manufacturer informed stock exchanges about this corporate development on December 16, 2025, as part of its regulatory disclosure obligations.

New Subsidiary Incorporations

Waaree Forever Energies Private Limited, a wholly-owned subsidiary of Waaree Energies, has incorporated two new wholly-owned subsidiaries on December 16, 2025. The newly formed entities are:

Both companies received their Certificates of Incorporation on December 16, 2025, and are registered with the Registrar of Companies, Mumbai.

Business Objectives

The incorporation of these subsidiaries serves a specific strategic purpose within Waaree Energies' business expansion plans. According to the company's disclosure, both Windora Energy Private Limited and Agni Vayu Energy Private Limited have been incorporated for facilitating and holding specific power projects under the Independent Power Producer (IPP) framework.

Ownership Structure and Financial Details

The ownership structure of the new entities reflects a hierarchical arrangement within the Waaree Energies group:

As newly incorporated entities, both companies currently have nil turnover and are yet to commence their business operations. The acquisitions do not fall within related party transactions, and no governmental or regulatory approvals are required for these incorporations.

Regulatory Compliance

Waaree Energies made this announcement pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure was made to both BSE Limited and National Stock Exchange of India Limited, ensuring compliance with stock exchange listing requirements. The company provided comprehensive details as required under SEBI circular SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.

Strategic Implications

The incorporation of these subsidiaries represents Waaree Energies' expansion in the renewable energy sector, specifically targeting power generation projects. By establishing dedicated entities for IPP framework projects, the company is positioning itself to pursue opportunities in India's renewable energy market. This move aligns with the company's core business in solar energy equipment manufacturing and indicates vertical integration into power generation activities.

Waaree Energies Limited has announced the incorporation of a new wholly-owned subsidiary through its existing subsidiary structure. The company informed stock exchanges about this corporate development in compliance with regulatory disclosure requirements.

New Subsidiary Formation

EcoFlux Renewables Private Limited has been incorporated as a wholly-owned subsidiary of Waaree Forever Energies Private Limited (WFEPL). WFEPL itself is a wholly-owned subsidiary of Waaree Energies Limited, making EcoFlux Renewables an indirect wholly-owned subsidiary of the parent company.

Business Objectives and Strategic Purpose

The newly incorporated subsidiary has been established with specific strategic objectives focused on the renewable energy sector. EcoFlux Renewables Private Limited has been incorporated solely for facilitating and holding specific power projects under the Independent Power Producer (IPP) framework.

As a newly incorporated entity, EcoFlux Renewables is yet to commence its business operations. The company currently has nil turnover, which is expected given its recent incorporation.

Regulatory Compliance and Disclosure

The incorporation announcement was made pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company provided the requisite disclosure as required under the SEBI Listing Regulations.

Corporate Structure Enhancement

This subsidiary formation represents an expansion of Waaree Energies' corporate structure to support its renewable energy business operations. The establishment of EcoFlux Renewables under the IPP framework indicates the company's strategic focus on power project development and management.

The subsidiary is incorporated in India and registered with the appropriate regulatory authorities, ensuring compliance with all statutory requirements for business operations in the renewable energy sector.