Afternoon Energies clears ₹3,900 crore glass capex; ups stake in Afternoon Transpower

Waaree Energies Limited on Tuesday approved a ₹3,900 crore capital expenditure to set up a glass manufacturing facility, while also increasing its stake in a key subsidiary as part of its expansion strategy.The board cleared the capex for a glass manufacturing plant with a capacity of 2,500 tonnes per day (TPD), to be set up under its wholly owned subsidiary, Waaree Green Glass Private Limited. The investment will be funded through a mix of debt and internal accruals, the company said in its filing.

Separately, the company approved the acquisition of additional equity in its subsidiary Waaree Transpower Private Limited, increasing its shareholding from 64.04% to 75.10%. The acquisition, valued at around ₹190 crore, will be completed through cash consideration, with an indicative timeline of June 2026.
Waaree Transpower, which operates in the transformer manufacturing segment, produces a range of solutions including oil-filled, dry-type and renewable energy transformers, with an installed capacity of 4,000 MVA. The company said the stake increase will support capacity expansion and capital expenditure requirements.Also Read: Waaree Energies announces CEO exit, new leadership appointments

Shares of Waaree Energies ended at ₹3,086, up ₹21.40 or 0.70% on the NSE ahead of the announcement.