Solar panel maker Waaree to file for Rs.1,500-Cr share sale

Solar panel maker Waaree Energies Ltd plans to raise INR 1,500 crore through a public listing. The company, an early mover in the renewable space, is looking to expand its module manufacturing capacity by another 3 gigawatts (GW) riding the drive for local manufacturing, some of it is already underway. Investment banks Axis Capital and ICICI Securities are advising the company on the proposed IPO. Waaree is a solar module manufacturer. It also has an engineering, procurement and construction (EPC) business with presence across 68 countries.