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Waaree Energies Acquires 76% Stake in Smart Meter Firm Racemosa Energy

Waaree Energies, one of India’s leading solar PV module manufacturers, has acquired a 76% stake in Racemosa Energy India for Rs53 crore, as per an exchange filing on September 18, 2025. Following the acquisition, Racemosa will become a step-down subsidiary of Waaree Energies.

Founded in 2018, Racemosa Energy is a Maharashtra-based manufacturer of smart electric meters. With this acquisition, Waaree aims to integrate smart metering solutions into its portfolio, expanding its role in the energy value chain beyond solar manufacturing. This move is expected to strengthen Waaree’s position in India’s evolving smart energy infrastructure market.

Earlier this week, Waaree Energies also announced the sale of a 14.66% stake in its subsidiary Indosolar Ltd. to comply with SEBI’s minimum public shareholding norms. This dual strategy of divestment and acquisition reflects Waaree’s focus on regulatory compliance while broadening its energy offerings.

By entering the smart metering business, Waaree is aligning with India’s growing push for digital power management, grid modernization, and consumer energy efficiency, creating new synergies with its core solar business.