Description
Waaree Energies clarifies that commercial terms of Enel Green Power acquisition are under review and discussions are ongoing.
Summary
Waaree Energies Limited issued a clarification regarding news reports about its acquisition deal with Enel Green Power being on the verge of collapse. The company confirmed that while certain commercial terms are under review, discussions are ongoing and no unpublished price sensitive information is pending disclosure.
Key Points
- Share Purchase Agreement signed with Enel Green Power Development S.r.l on January 10, 2025
- Acquisition involves 100% share capital of Enel Green Power India Private Limited
- Certain commercial terms of the agreement are currently under review
- Company is in active discussions regarding these terms
- Share price movement is market driven with no pending UPSI
- No regulatory or legal proceedings initiated related to the acquisition
Regulatory Changes
No regulatory changes mentioned in this circular.
Compliance Requirements
- Company reaffirms compliance with Regulation 30 of SEBI LODR 2015
- Commitment to make necessary disclosures at appropriate time
- Continued adherence to disclosure requirements
Important Dates
- January 10, 2025: Original SPA signing date
- August 19, 2025: Clarification issued
Impact Assessment
The clarification addresses market concerns about the acquisition deal status. While commercial terms are under review, the company maintains that discussions are ongoing rather than the deal collapsing. This provides some reassurance to investors but indicates potential delays or modifications to the original agreement terms.
Impact Justification
Clarification on major acquisition deal status affecting stock price movement