OUR BUSINESS
We are the largest manufacturer of solar PV modules in India with the largest aggregate installed capacity of 12GW, as of June 30, 2023. (Source: CRISIL Report) For fiscal 2023, we had the second-best operating income among all the domestic solar PV module manufacturers in India. cost-effective sustainable energy solutions across markets, and aid in reducing carbon footprint paving the way for sustainable energy thereby improving quality of life.
Over the years, we have significantly expanded our aggregate installed capacity from 2 GW in Fiscal 2021 to 9 GW, as of March 31, 2023, which further increased to 12 GW as of June 30, 2023, as evidenced by our ability to quickly complete our expansion plans efficiently.
Our solar PV modules are currently manufactured using multi-crystalline cell technology, monocrystalline cell technology, and emerging technologies such as Tunnel Oxide Passivated Contact (“TopCon”) which helps reduce energy loss and enhances overall efficiency. Our portfolio of solar energy products consists of the following PV modules:
- multi-crystalline modules;
- monocrystalline modules; and
- TopCon modules, comprising flexible modules, which include bifacial modules (Mono PERC) (framed and unframed), and building integrated photo voltaic (BIPV) modules.
As of June 30, 2023, we operated four manufacturing facilities in India spread over an area of 136.30 acres. We operate one factory each, located at Surat (“Surat Facility”), Tumb (“Tumb Facility”), Nandigram (“Nandigram Facility”), and Chikhli (“Chikhli Facility”) in Gujarat, India.
OBJECTS Of OFFER
The Objects of the Fresh Issue
The net proceeds of the Fresh Issue, i.e., gross proceeds of the Fresh Issue less the offer expenses apportioned to our Company about the Fresh Issue (“Net Proceeds”) are proposed to be utilized in the following manner:
- Part finance the cost of establishing the 6GW of Ingot Wafer, Solar Cell, and Solar PV Module manufacturing facility in Odisha, India(“Project”).
- General corporate purposes.
OUR PROMOTERS
The Promoters of our Company are
- Hitesh Chimanlal Doshi
- VirenChimanlal Doshi
- Pankaj Chimanlal Doshi
- Waaree Sustainable Finance Private Limited
QUALITATIVE FACTOR
Some of the qualitative factors which form the basis for computing the Offer Price are:
- Largest solar PV module manufacturer in India well positioned to capture industry tailwinds and growth prospects for solar energy in India and globally;
- Diversified base of global and Indian customers with a large order book;
- Advanced manufacturing facilities with global accreditations;
- Extensive pan-India retail network; ➢Consistent track record of financial performance; and
- Experienced senior management team with demonstrated execution capabilities and a committed employee base
WAAREE ENERGIES LIMITED CONTACT DETAILS
602, 6thFloor, Western Edge –I
Western Express Highway
Borivali (East)
Mumbai –400 066Maharashtra, India
Telephone: +91 22 6644 4415
Website: www.waaree.com
WAAREE ENERGIES LIMITED IPO REGISTAR
Name: Link Intime India Private Limited
C-101, 247 Park, L.B.S Marg,
Vikhroli West, Mumbai-400083
Telephone: +91 8108114949
E-mail: shreetirupatibalajee.ipo@linkintime.co.in
Investor Grievance E-mail:shreetirupatibalajee.ipo@linkintime.co.in
Contact Person: Ms. Shanti Gopalkrishnan
Website: www.linkintime.co.in
