Waaree Energies Ltd., a producer of photo voltaic PV modules in India with combination put in capability 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 increase ₹3,000 crore through a contemporary problem of fairness shares and a proposal on the market of up to 32 lakh fairness shares having face worth of ₹10 every.
The firm proposes to utilise the online proceeds in the direction of half financing the price of establishing the 6GW of Ingot Wafer, Solar Cell and Solar PV Module manufacturing facility in Odisha in addition to for normal company functions. The firm commenced operations in 2007 specializing in photo voltaic PV module manufacturing and for FY23 reported complete earnings of ₹6,860 crore.
The firm mentioned it has a considerable order e book of photo voltaic PV modules and as of November 30, 2023, the pending order e book of photo voltaic PV modules was 20.16 GW which included home orders, export orders, and franchisee orders and three.75 GW of orders for the subsidiary, Waaree Solar Americas Inc. situated within the United States.
