Waaree Renewable Technologies Limited has informed stock exchanges that India Ratings has placed the company's bank loan facilities on Rating Watch with Developing Implications. The rating agency communicated this decision to the company on February 05, 2026, prompting regulatory disclosure under SEBI guidelines.

Rating Action Details

India Ratings has taken specific action regarding the company's banking facilities while maintaining the existing credit rating structure. The rating watch indicates an ongoing assessment period where the rating agency evaluates various factors that could influence future rating decisions.

Facility Structure

The bank loan facilities under review are provided by Indian Renewable Energy Development Agency Limited. The rating watch status applies to the entire facility amount, indicating comprehensive evaluation by the rating agency.

Regulatory Compliance

The company has fulfilled its disclosure obligations under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The information was formally communicated to BSE Limited and National Stock Exchange of India Limited on February 06, 2026.

Key Compliance Elements:

• Timely disclosure within regulatory framework
• Complete facility details provided to exchanges
• Reference to detailed rationale available on rating agency website
• Proper documentation and authorization by company secretary

Rating Agency Communication

India Ratings issued its formal communication on February 05, 2026, outlining the rating watch placement. The agency has made detailed credit rating rationale accessible through its official platform, providing stakeholders with comprehensive information regarding the assessment criteria and methodology applied to reach this decision.

Waaree Renewable Technologies Limited has announced board approval for a significant strategic acquisition that will strengthen its position in the renewable energy sector. The company's board meeting held on January 26, 2026, approved the acquisition of approximately 55% stake in Associated Power Structures Limited for INR ~1,225 crores.

Acquisition Details

The transaction involves acquiring ~55% of the equity share capital of Associated Power Structures Limited (ASPL) through a combination of primary and secondary transactions. The acquisition is structured as a cash consideration deal and is subject to completion of due diligence and customary closing conditions.

Target Company Profile

Associated Power Structures Limited, incorporated on May 21, 1996, operates in the power transmission and distribution infrastructure sector. The company has established a strong financial foundation with significant growth in recent years.

Financial Performance

Revenue Growth Trajectory

The company has demonstrated remarkable growth, with turnover nearly tripling from FY23 to FY25, showcasing strong business momentum and market expansion.

Strategic Rationale

This acquisition represents part of WRTL's strategic initiative to expand its presence and strengthen capabilities across the renewable energy and energy efficiency ecosystem. ASPL operates in a complementary sector that aligns with WRTL's long-term vision of integrated clean energy solutions.

The transaction is not classified as a related party transaction, with no promoter or group company interests in the target entity. ASPL has international presence, having undertaken business operations in several countries, which could provide additional growth opportunities for the combined entity.

Corporate Structure Impact

Following completion of the acquisition, Associated Power Structures Limited will become a subsidiary of Waaree Renewable Technologies Limited. The transaction requires no specific governmental or regulatory approvals, facilitating a smoother acquisition process.

The board meeting commenced at 11:38 AM and concluded at 11:58 AM on January 26, 2026, with the acquisition proposal receiving unanimous approval from the directors.