Waaree Energies Ltd Share Price

(WAAREEENER)

Waaree Energies Limited was originally incorporated as Anmol Fluid Connectors Private Limited at Mumbai on December 18 1990 issued by the RoC. Thereafter name of Company changed to Waaree Solar Private Limited on April 25 2007 and later on the name was further changed to Waaree Energies Private Limited pursuant to Certificate of Incorporation on December 12 2007. Accordingly the Company converted into a Public Company on March 8 2013 and consequently the name was changed to Waaree Energies Limited pursuant to a fresh Certificate of Incorporation issued by the RoC on May 2 2013. The Company is the largest manufacturer of solar PV modules in India with the largest aggregate installed capacity of 12 GW. Presently it is engaged in manufacture of Solar Photovoltaic Modules setting up of Projects in solar space and sale of electricity. The Company operated five manufacturing facilities in India spread over an area of 143.01 acres. It operate one factory each located at Surat Tumb Nandigram Chikhli in Gujarat India and the IndoSolar Facility in Noida Uttar Pradesh.The solar PV modules are currently manufactured using multicrystalline cell technology monocrystalline cell technology and emerging technologies such as Tunnel Oxide Passivated Contact TopCon which helps reduce energy loss and enhances overall efficiency. In 2007 the Company got into the business in manufacturing line of solar energy with an operational capacity of 30 MW module. In 2014 it formed a joint venture with North Eastern Electric Power Corporation Limited NEEPCO for implementation of solar power project in Sehore Madhya Pradesh. In 2017 it acquired 40 shares in Waaneep Solar Private Limited from NEEPCO and accordingly Waaneep Solar Private Limited became the wholly owned subsidiary of the Company.In 2018 it commissioned solar photovoltaic modules plant having capacity of 1000MW. It got into a Share Purchase Agreement for sale of investments in the whollyowned subsidiary Waaneep Solar Private Limited. In March 2021 the Company acquired 500 MW Solar Module manufacturing facility which took the total installed capacity to 2GW. The Company initiated construction activities for a solar cell manufacturing unit in 2022. It increased capacity to 12GW in 2023 and has further increased 13.3 GW capacity with the commissioning of 1.3 GW of module manufacturing facility at Indosolar Limiteds Noida facility in 2024. In October 2024 the Company has come out with an Initial Public Offering of 28752095 Equity Shares by raising funds aggregating to Rs. 4321 Crore comprising a Fresh Issue of 23952095 Equity Shares aggregating to Rs 3600 Crore and 4800000 Equity Shares Offer for Sale aggregating to Rs. 721 Crore..

Listing date: 28 Oct, 2024
Chairperson Name: HITESH CHIMANLAL DOSHI