Waaree Energies shareholders approve ₹10,000 cr QIP for growth
Business
Waaree Energies just got the green light from shareholders to raise up to ₹10,000 crore through a Qualified Institutional Placement (QIP): basically, selling shares or other securities to big investors.
The move comes as the company gears up for more growth and new projects.
Waaree appoints Jignesh Devchandbhai Rathod CEO
Jignesh Devchandbhai Rathod has stepped in as the new CEO and whole-time director.
On top of that, Waaree bagged a major order for 800 MW of solar modules set for delivery in FY 2026-27.
Financially, things are looking bright: revenue jumped 131% year over year last quarter to ₹1,102.4 crore, with profit also up by 66.1%.
Margins dipped a bit due to higher project costs, but overall momentum stays strong.