Waaree Energies files DHRP with SEBI. To raise up to ₹3000 crore through fresh issue and an OFS up to 32 lakh shares
₹3000 Crore, there will be an offer for sale of up to 3,200,000 Equity Shares having face value of ₹10 each. Also Read- Trident Techlabs share price lists at ₹98.15 on NSE SME- a stellar 180% premium over the issue price Of these 3,200,000 shares under the offer for sale, up to 2,700,000 Equity Shares are being offered by Waaree Sustainable Finance Private Limited (formerly known as Mahavir Thermoequip Private Limited), Promoter Selling Shareholder.
In addition up to 450,000 Equity Shares are being offered by Chandurkar Investments Private Limited and up to 50,000 Equity Shares by Samir Surendra Shah (other Selling Shareholders) Axis Capital Limited, IIFL Securities Limited, Jefferies India Private Limited, Nomura Financial Advisory and Securities (India) Private Limited, SBI Capital Markets Limited, Intensive Fiscal Services Private Limited and ITI Capital Limited are the Book Running Lead Managers to the issue. The company proposes to utilize the Net Proceeds for the fresh issue of shares towards part financing the cost of establishing the 6GW (giga Watt) of Ingot Wafer, Solar Cell and Solar PV Module manufacturing facility in Odisha, India as well as for general corporate purposes.
Waaree Energies commenced operations in 2007 focusing on solar PV module manufacturing, with an aim to provide sustainable energy solutions across markets. Waree Energies highlighted that it the largest manufacturer of solar PV modules in India with the largest aggregate installed capacity of 12 GW, as of June 30, 2023.
For FY23, the company had the second best operating income among all the domestic solar PV module manufacturers in India. Waaree Energies revenue from operations have grown at a CAGR of 85.92% from Rs1953.04 Crore in FY21 to
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