Waaree Energies to acquire smart meter maker for ₹53cr
Waaree Energies is gearing up to buy 76% of Racemosa Energy (India) Private Limited through its subsidiary, Waaree Power.
The ₹53 crore deal is set to help Waaree branch out beyond just solar manufacturing and get into new areas of the energy sector.
The acquisition still needs regulatory approvals and is expected to wrap up by the end of FY 2025-26.
Racemosa's smart meters align with India's renewable energy goals
Racemosa, based in Maharashtra and known for making smart meters since 2018, fits right into India's big push for renewable energy—aiming for a massive 900GW capacity by FY32.
After the news broke, Waaree's stock nudged up to ₹3,508 with strong trading activity.
Market experts like Yes Securities are optimistic too, giving Waaree a 'Buy' rating as it keeps leading India's solar PV module scene and now looks set to diversify even further.