IPO
Solar PV cells maker Waaree Energies to raise $700-M via share sale
Mumbai-based photovoltaic cell maker Waaree Energies is to raise $700-M through the sale of shares to institutional investors. The company has hired Motilal Oswal Investment Advisors, JPMorgan Chase, Nuvama Wealth Management, and Nomura Holdings to manage a share sale beginning next month.Founded in 1990, Waaree Energies offers a comprehensive portfolio spanning solar panels & inverters manufacturing, EPC (engineering, procurement, and construction) services, green hydrogen solutions, battery energy storage systems, green energy infrastructure, and data centres. The company has a footprint across India and over 25 countries.The fresh funds will be used to support its capital expenditure plans of Rs. 30,000-Cr across its businesses to facilitate growth.
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