Waaree Energies Limited has intimated the stock exchanges, pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, about the incorporation of a new step-down subsidiary.
Nature of the Event
The company's wholly-owned subsidiary, Waaree Clean Energy Solutions Private Limited (WCESPL), has incorporated a new wholly-owned subsidiary named WH Clean Mobility Systems Private Limited.
Key Dates
- Date of Incorporation: August 04, 2026
- Date of Receipt of Certificate of Incorporation: August 06, 2026 (the date of this disclosure)
- Date of Intimation to Exchanges: August 06, 2026
Details of the New Entity
- Name: WH Clean Mobility Systems Private Limited
- Industry: Hydrogen Business
- Business Purpose: Providing Mobility Solutions using clean fuels/batteries.
- Country of Incorporation and Operations: India
- Registration: Registered with the Registrar of Companies, Mumbai.
- Operational Status: The company is newly incorporated and is yet to commence its business operations. Consequently, its turnover is currently Nil.
Ownership Structure
Waaree Clean Energy Solutions Private Limited (WCESPL) holds 100% of the share capital of WH Clean Mobility Systems Private Limited.
Financial and Transactional Details
The disclosure explicitly states that the following are Not Applicable:
- The acquisition qualifying as a related party transaction.
- Any governmental or regulatory approvals required.
- An indicative time period for completion.
- The form of consideration (e.g., cash, share swap).
- The cost of acquisition or share price.
Impact
The disclosure is a formal intimation of a corporate structuring event. No financial impact, cost of acquisition, or immediate operational details are quantified in the filing, as the subsidiary is newly formed.