What was filed
Waaree Energies told the exchanges that its step-down subsidiary Waaree Smart Meters Private Limited — formerly Racemosa Energy (India) Private Limited — acquired a 24.21% equity stake in Eppeltone Engineers Limited through an off-market transaction dated August 07, 2026. The consideration was paid in cash. The company said the acquisition is not a related party transaction, and that no governmental or regulatory approvals were required.
The target
Eppeltone Engineers, established in 1977 and incorporated in its current form on September 18, 2002, is based in Delhi and manufactures electronic energy meters — including smart meters — along with power conditioning devices. Per the filing, its turnover has risen over the last three financial years. Waaree framed the deal as integrating smart meters to strengthen its presence across the energy value chain, extending the group beyond its core solar business into metering.
Why it matters to a holder
This is a minority stake rather than a controlling acquisition, taken through the Waaree Smart Meters vehicle. The disclosure marks a step into the energy-metering segment. The filing does not state whether further stake increases are contemplated.