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HSBC Seals Landmark Rupee Acquisition Financing Deal
19 Jun
Summary
- HSBC financed Waaree's Rs 1,255 crore acquisition of a stake in APSPL.
- This marks one of the first deals under RBI's revised acquisition financing framework.
- The transaction utilized a mix of HSBC debt and Waaree's equity.
HSBC India has successfully financed Waaree Renewable Technologies' acquisition of a 55% stake in Associated Power Structures Private Ltd (APSPL) for Rs 1,255 crore. This transaction represents a significant achievement as it is one of the initial acquisition financing deals in India executed under the Reserve Bank of India's (RBI's) recently revised framework, particularly notable for being facilitated by a foreign bank.
The financing was structured using a combination of debt provided by HSBC and equity contributions from Waaree. This deal was enabled by the RBI's amendment to its Commercial Banks-Credit Facilities Directions on March 30, 2026, which aimed to liberalize the acquisition financing landscape for banks. Although the revised norms were set to take effect from July 1, 2026, HSBC opted to implement the framework earlier.
According to HSBC, this new regime is poised to unlock additional liquidity and create new funding avenues for Indian corporations engaged in domestic acquisition financing. Following this successful closure, HSBC India anticipates a strong pipeline of similar transactions in the coming months, highlighting the growing demand and opportunity within this financing segment.
