VA Tech Wabag zooms on inking non-binding equity partnership of $100 million with investor consortium
VA Tech Wabag is currently trading at Rs. 1470.00, up by 82.75 points or 5.97% from its previous closing of Rs. 1387.25 on the BSE.
The scrip opened at Rs. 1400.00 and has touched a high and low of Rs. 1510.00 and Rs. 1392.65 respectively. So far 106308 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1943.95 on 09-Dec-2024 and a 52 week low of Rs. 688.55 on 21-Mar-2024.
Last one week high and low of the scrip stood at Rs. 1510.00 and Rs. 1325.55 respectively. The current market cap of the company is Rs. 9099.08 crore.
The promoters holding in the company stood at 19.13%, while Institutions and Non-Institutions held 20.88% and 59.99% respectively.
VA Tech Wabag has signed a non-binding term sheet for a dedicated platform (Municipal Platform) to focus on the development of capital projects for the municipal sector. The municipal platform will commit equity investment of up to $100 million in capital projects over a 3 to 5 years period. The municipal platform will be established in collaboration with an investor consortium including Norfund and two other international investors.
The company will play a pivotal role in the platform as the Technical Partner, delivering EPC (Engineering, Procurement, and Construction) and O&M (Operations and Maintenance) services. The company will also make a minority investment in the platform, consistent with its Asset-Light Strategy.
The proposed platform will focus on leveraging the combined expertise and resources of the company and its partners to address the growing demand for advanced water treatment technologies and infrastructure. By uniting capabilities, the platform will target key opportunities in municipal sector, supporting sustainable water management and contributing to economic development. The term-sheet outlines the framework for collaboration and represents an important step toward formalizing the partnership to accelerate the delivery of transformative projects in key regions.
VA Tech Wabag is an India-based company engaged in the business of water treatment field
