Waaree Energies Soars into Public Market with Rs 3000 Crore IPO

02 Jan 2024 CW Team

Leading solar module manufacturer Waaree Energies has filed paperwork with market regulator Sebi to launch a Rs 3000 crore initial public offering (IPO), marking its ambitious entry into the public market. The company, fueled by a booming renewables sector, aims to raise capital through a fresh issue of shares, propelling its aggressive domestic and international expansion plans.

A significant chunk of the IPO proceeds will be channeled into establishing a colossal 6GW manufacturing facility in Odisha, encompassing ingot wafer, solar cell, and module production. This move underscores Waaree's commitment to bolster India's solar manufacturing prowess and capitalize on the government's thrust on clean energy.

"This IPO is a watershed moment for Waaree Energies," said a company spokesperson. "It will equip us with the resources to not only strengthen our domestic footprint but also realize our ambitious global aspirations."

The IPO also features an Offer for Sale (OFS) with existing investors, including Waaree Sustainable Finance Private Limited, Chandurkar Investments Private Limited, and Samir Surendra Shah, divesting up to 3.2 million equity shares.

Waaree's IPO ambitions come on the heels of a flurry of activity. Last week, the company announced a monumental $1 billion investment in a Texas-based solar module manufacturing plant, aiming to tap into the burgeoning US renewables market. This facility, with an initial capacity of 3GW by year-end 2024, further highlights Waaree's global vision.

Furthermore, in August 2023, Waaree secured Rs 1,000 crore in funding from ValueQuest, a renowned investor in sustainable ventures, solidifying its financial muscle for future growth.

With a robust track record dating back to 2007, Waaree Energies has established itself as a frontrunner in the Indian solar landscape. Its IPO launch marks a pivotal step in its journey, promising to catapult the company to new heights and illuminate India's path towards clean energy dominance.

Infrastructure Urban

10 Mar 2026

ABB to Invest Rs 6.25 Billion to Expand India Manufacturing

ABB recently announced plans to invest approximately Rs 6.25 billion ($75 million) in India during 2026 to expand its manufacturing footprint and research and development capabilities. The investment follows more than $35 million spent in 2025 and reflects the company’s continued focus on strengthening its ‘local-for-local’ strategy in the country.The investment will support ABB’s Electrification, Motion and Automation businesses and expand manufacturing capacity for infrastructure sectors such as renewable energy, metro rail, data centres and industrial applications. Approximately 300..

Six WOLFF Cranes Handle 60,000 m³ Concrete for German Hospital

Six WOLFF tower cranes are playing a key role in constructing a new hospital complex in Memmingen, Germany, supporting large-scale material handling for the project. The facility is being built on a 7.7-hectare site and will feature six floors, around 480 beds and a gross floor area exceeding 75,000 sq m.Building shell works began recently in February 2025. One WOLFF 6531.12 Cross crane supported early site preparation before being dismantled in autumn 2025, while five remaining cranes continue operations. Over an average deployment period of 16 months, the cranes are expected to move approxim..

REC Funds Rs 115.6 Million CSR Support for Bihar Eye Hospital

REC recently committed Rs 115.6 million under its Corporate Social Responsibility (CSR) programme for the procurement of clinical and non-clinical equipment at Sankara Eye Hospital in Saharsa, Bihar. The initiative aims to strengthen healthcare infrastructure and improve access to specialised eye care services in the region.A Memorandum of Agreement (MoA) was recently signed between Pradeep Fellows, Executive Director (CSR), REC Limited, and Wg Cdr V. Shankar (Retd), Trustee and Executive Director of Sankara Eye Hospital, at the REC office in the SCOPE Complex, New Delhi.The support is expecte..