- 24 Mar 2025
- ICICIdirect Research
WABAG HAS ENTERED INTO AN EQUITY PARTNERSHIP AGREEMENT WITH AN INVESTOR CONSORTIUM INCLUDING NORFUND
WABAG - 1287 Change: -48.30 (-3.62 %)News: Wabag has entered into an equity partnership agreement with an investor consortium including Norfund (a Norwegian Investment Fund for developing countries) to invest upto $100 million (~₹860 crore) in Municipal Projects. Wabag see's upcoming opportunities worth $1 Billion in cleaning India's rivers like Yamuna, Adyar, Cooum among others over the next 3-5 years. The platform will enable it to participate as a technical EPC and O&M partner to execute projects.
View: Wabag is placed in the perfect spot to deliver wastewater cleaning solutions. It aims to maintain it's asset light strategy through this investment collaboration agreement. Wabag has proactively acted to capitalise on domestic wastewater opportunity thus, improving longer term revenue and growth visibility for the company.
Impact: Positive