Solar panel maker Waaree in talks to raise Rs 1,000 crore

Waaree Energies is in talks with HNIs and family offices to raise ₹1,000 crore at a valuation of ₹13,000 crore to part-finance its capital expenditure plans, people aware of the development said.

“The fundraising is aimed at tying up the financial requirements for its ₹8,000-crore capex plan which will see Waaree set up 6-GW (gigawatts) of manufacturing capacity each for solar module, cells, and ingots and wafers under the production-linked incentive (PLI) scheme,” one of the sources said

Source :Economic times, 18/5/2023