Waaree Energies

Waaree Energies Limited is a key company in the solar equipment manufacturing sector, having raised substantial funds via an IPO. The company's primary goal is financing the creation of a large-scale manufacturing facility for solar components like wafers, cells, and modules. It intends to use a significant portion of its net proceeds, around ₹697.70 crore, for general corporate purposes to support business growth. Strategically, the Board of Directors has approved a proposal to change the project's location from Odisha to Gujarat and Maharashtra. To execute this, the company has already acquired land for its cell facility in Gujarat and secured leases for other plants. Waaree Energies successfully secured ₹3600 crore from its IPO to fund these ambitious expansion and operational plans.;