Description
Waaree Energies responds to media reports about potential collapse of Enel Green Power acquisition deal.
Summary
Waaree Energies Limited issued a clarification regarding media reports about the potential collapse of its acquisition deal with Enel Green Power. The company confirmed that commercial terms are under review but emphasized no unpublished price sensitive information is pending disclosure.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
- Deal involves acquisition of 100% share capital of Enel Green Power India Private Limited
- Certain commercial terms currently under review and discussions ongoing
- Company will make necessary disclosures at appropriate time per Regulation 30
- Share price movement described as market driven
- No regulatory or legal proceedings initiated regarding the acquisition
Regulatory Changes
No regulatory changes announced in this circular.
Compliance Requirements
- Company reaffirms commitment to comply with Regulation 30 of SEBI Listing Regulations
- Proper disclosure obligations maintained for material events
Important Dates
- January 10, 2025: Original Share Purchase Agreement signed
- August 19, 2025: Clarification issued
Impact Assessment
The clarification aims to address market speculation and provide transparency about the ongoing acquisition process. While commercial terms are under review, the company maintains that proper disclosure protocols are being followed, which should help stabilize investor confidence.
Impact Justification
Company clarification addressing media speculation about major acquisition deal