Waaree Energies Share Price

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 one of the major players in the solar energy industry in India focused on PV module manufacturing. Presently, it is engaged in manufacture of Solar Photovoltaic Modules, setting up of Projects in solar space and sale of electricity. It operate 3 manufacturing facilities comprising 4 factories in India: at Surat, Tumb and Nandigram in Gujarat, India. 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 1,000MW. 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 is planning to come out with an initial public offer by raising capital of Rs 1350 crore equity shares through fresh issue and by issuing 4,007,500 equity shares through offer for sale.