12/07/2026
Rekha Jhunjhunwala Gains Rs 45,70,00,000 In A Single Day As This Multibagger Stock Nears Its All-Time High Secures A Mega International Order.
On Friday, Indian equity benchmarks traded in the red, with the Nifty 50 declining 201.65 points, or 0.83 per cent, to 23,966.35. Despite the broader market weakness, VA Tech Wabag share price surged 5.02 per cent to Rs 1,913.20, gaining Rs 91.40 during the session after the company announced a Mega international desalination order from Kuwait.
VA Tech Wabag Bags Mega International Order
VA Tech Wabag has secured a Design, Build and Operate (DBO) contract for the Doha Seawater Reverse Osmosis (SWRO) Desalination Plant with Recarbonation System – Stage II in Kuwait.
According to the company's classification, a Mega international order refers to a contract valued at more than USD 150 million. The project also marks Wabag's maiden entry into the Kuwaiti market and further strengthens its footprint across the GCC region.
The project will be executed through an unincorporated joint venture led by Wabag in association with Heavy Engineering Industries & Shipbuilding Company K.S.C. (HEISCO).
VA Tech Wabag Project Details
The scope of work includes the design, engineering, procurement, construction and commissioning of a 60 MIGD (approximately 272 MLD) seawater reverse osmosis desalination plant equipped with a state-of-the-art recarbonation system.
The Engineering, Procurement and Construction (EPC) phase is expected to be completed within 36 months, followed by a five-year Operations and Maintenance (O&M) contract.
The facility will deploy advanced desalination technologies to produce high-quality potable water and help meet Kuwait's growing water requirements. The project will also integrate Solar Photovoltaic (PV) systems to partially meet the plant's energy needs, supporting Kuwait's renewable energy goals and reducing the overall carbon footprint.
Management Commentary
Commenting on the development, Rohan Mittal, Head – Strategy and Business Growth, GCC, stated that the project represents a significant milestone in Wabag's GCC growth journey and strengthens its leadership position in the Middle East desalination market.
He added that the order reinforces the company's commitment to delivering advanced and energy-efficient desalination solutions while supporting long-term water security and sustainability goals in the region.
Rekha Jhunjhunwala Holds 8.02 per cent Stake
According to the March 2026 shareholding pattern, ace investor Rekha Jhunjhunwala held an 8.02 per cent stake in VA Tech Wabag, equivalent to 50,00,000 shares. Based on Friday's gain of Rs 91.40 per share, the value of her holding increased by approximately Rs 45,70,00,000 during the trading session alone. Her continued ownership in the company reflects long-term confidence in Wabag's growth prospects and global water infrastructure business.
VA Tech Wabag Shareholding Pattern
As of March 2026, promoters held 19.09 per cent of the company, while Foreign Institutional Investors (FIIs) owned 16.60 per cent and Domestic Institutional Investors (DIIs) held 5.77 per cent.
Despite a moderation in FII ownership from 18.97 per cent in December 2025 to 16.60 per cent in March 2026, institutional participation in the stock remains strong. DII shareholding increased to 5.77 per cent from 4.32 per cent during the same period, reflecting growing domestic institutional interest.
Public shareholding stood at 58.54 per cent, with Rekha Jhunjhunwala remaining one of the largest public shareholders in the company.
About VA Tech Wabag
VA Tech Wabag Ltd is a pure-play water technology multinational specialising in the design, construction and operation of water and wastewater treatment infrastructure for municipal and industrial customers.
Headquartered in Chennai, the company operates in more than 25 countries and holds over 125 intellectual property rights. Wabag is recognized among the world's leading private water operators and ranks among the top desalination plant suppliers globally. The company has established a strong presence across Asia, the Middle East and Africa through its expertise in water treatment, wastewater recycling, desalination and sustainable water management solutions.
