Manufacturer of solar modules Waaree Energies announced that it had submitted its Draft Red Herring Prospectus (DRHP) to the Securities and Exchange Board of India, the market authority.
A new issue of equity shares up to Rs 30,000 million and an offer to sell up to 3,200,000 equity shares with a face value of Rs 10 each make up the company’s first public offering, as reported by ETEnergyWorld.
Read also – Gruhas Gusto Launches a 6-Month Foodtech Startup Accelerator Programme
Being the most bankable solar brand in India, they have over 388 franchisees and provide a wide range of solar solutions, such as EPC services, solar products & utilities, energy storage, and more.
According to the statement, the company intends to use the surplus funds for general corporate reasons in addition to partially financing the establishment of a 6-GW ingot wafer, solar cell, and solar module production plant in Odisha, India.
Read also – Gentari Acquires Offshore Wind Capability with Partnership in Hai Long Project
About Waaree Energies
Established in 1989, Waaree Energies Ltd. is a leading global provider of solar energy solutions and photovoltaic modules.
With a 12 GW manufacturing plant and more than 8500 employees globally, they have supplied 6 GW of high-quality solar modules to 20 different nations. For 35 quarters running, Bloomberg New Energy Finance has consistently ranked us among Tier 1 Module Manufacturers.
Read also – Adani Total Gas and Flipkart Sign MoU to Decarbonise Supply Chain
