Waaree Energies544277Stake acquisition deal

Board approves acquisition of 33.34% stake in Wictor Sealz for Rs. 33,340

Board of Waaree Energies approved acquisition of 33.34% of the paid-up equity share capital of Wictor Sealz Private Limited from Vimac Impex Private Limited, via a Share Purchase-cum-Shareholders' Agreement.

By ScoutQuest · Sat 31 Oct 2026, 8:02 PM IST · 2 min read

33.34%Stake acquired in Wictor Sealz

Stake acquired in Wictor Sealz: 33.34%.

Stake Acquired: 33.34% of the paid-up equity share capital of Wictor Sealz Private Limited
Consideration: Rs. 33,340/- for 3,334 equity shares, at a face value of Rs. 10/- per share, cash consideration
Further Investment: Rs. 5 crore post-acquisition; long stop date March 31, 2027

What the board approved

Waaree Energies' board, at its meeting on October 31, 2026, considered and approved the acquisition of 33.34% of the paid-up equity share capital of Wictor Sealz Private Limited from Vimac Impex Private Limited. The purchase is through a Share Purchase-cum-Shareholders' Agreement proposed to be executed by the Company, Wictor Sealz and Vimac.

Shares acquired: 3,334 equity shares, representing 33.34% of the paid-up equity share capital of Wictor Sealz Private Limited
Cost of acquisition: Rs. 33,340/-, at a face value of Rs. 10/- per share
Form of consideration: cash
Indicative time period for completion: Financial Year 2026 - 27
Governmental or regulatory approvals required: Not Applicable, as stated in the update

A further investment

In terms of the Share Purchase-cum-Shareholders' Agreement, the Company shall, post-acquisition, make a further investment of Rs. 5 crore (Rupees Five Crore only) in Wictor Sealz. The long stop date for this further investment is March 31, 2027.

What the target company does

Wictor Sealz Private Limited belongs to the solar module sealants and specialty chemicals manufacturing industry. It is incorporated in India on January 05, 2026 and is engaged in the business of solar module sealants related products. The update states that it is yet to commence business operations.

Why the company says it is doing this

The investment is proposed with a view to strengthening the Company's supply chain integration, reducing dependence on imported solar module sealant, enhancing supply security and creating long-term strategic value for stakeholders.

Related party position

The acquisition does not constitute a related party transaction. Wictor Sealz Private Limited is not related to the promoter, promoter group or group companies of the Company.

Points a shareholder can weigh

The stake being acquired is 33.34%, a minority shareholding in the target.
The upfront outlay is small at Rs. 33,340/-, followed by a Rs. 5 crore further investment whose long stop date is March 31, 2027.
The target is a recently incorporated company, incorporated on January 05, 2026, and is yet to commence business operations; the update gives its stated line of business rather than an operating record.
The stated purpose is backward linkage into a key input, solar module sealant, which the company currently depends on importing.

Also from Waaree Energies