Waaree Energies Ltd., a manufacturer of solar PV modules in India with aggregate installed capacity of 12 GW as of June 30, has filed its Draft Red Herring Prospectus (DRHP) with market regulator Securities and Exchange Board of India (SEBI) to raise ₹3,000 crore via a fresh issue of equity shares and an offer for sale of up to 32 lakh equity shares having face value of ₹10 each.
The company proposes to utilise the net proceeds towards part financing the cost of establishing the 6GW of Ingot Wafer, Solar Cell and Solar PV Module manufacturing facility in Odisha as well as for general corporate purposes. The company commenced operations in 2007 focusing on solar PV module manufacturing and for FY23 reported total income of ₹6,860 crore.
The company said it has a substantial order book of solar PV modules and as of November 30, 2023, the pending order book of solar PV modules was 20.16 GW which included domestic orders, export orders, and franchisee orders and 3.75 GW of orders for the subsidiary, Waaree Solar Americas Inc. located in the United States.
Published - December 29, 2023 07:42 pm IST
