WAAREE ENERGIES PLANS TO RAISE Rs 10,000 CRORES VIA QIP

The management of

has approved a fund raise of Rs 10,000 crore through QIP or other permissible modes including equity shares, non-convertible debentures with warrants, or other eligible securities. This will be allocated in two parts - the first is a 10 GW ingot and wafer manufacturing facility planned in Nagpur with an estimated investment of around Rs 6,200 crores. Next is a 2,500 tonne-per-day solar PV glass manufacturing facility at an investment of approximately Rs 3,900 crores. Moreover, the company plans to invest nearly Rs 30,000 crore over the next two years across multiple clean-energy businesses. The success that has come after decades of quiet toil until just a few years ago has unleashed a frenetic run for growth and scale that has rarely been seen in any other sector before.