IPO Details

About Company

Incorporated in December 1990, Waaree Energies Limited is a leading Indian manufacturer of solar PV modules, with a total installed capacity of 12 GW. The company’s product range includes the following solar energy solutions: - Multicrystalline modules - Monocrystalline modules - TopCon modules, featuring flexible bifacial modules (Mono PERC), both framed and unframed, as well as building-integrated photovoltaic (BIPV) modules. As of June 30, 2023, Waaree Energies operates four manufacturing facilities in India, spanning a total area of 136.30 acres in Surat, Tumb, Nandigram, and Chikhli, Gujarat. The Tumb facility holds certifications in ISO 45001:2018 and ISO 14001:2015 for solar PV module manufacturing, marketing, supply, and installation. The Chikhli facility is certified under ISO 45001:2018, ISO 9001:2015, and ISO 14001:2015, ensuring high standards in manufacturing, marketing, and supply. The company served a total of 1,381, 716, 566, and 373 customers in India as of March 31, 2021, 2022, 2023, and June 30, 2023, respectively. Internationally, the company had served 31, 26, 33, and 20 customers during the same periods. Competitive Strengths: - Largest Solar PV Module Manufacturer in India - Diverse customer base in India and globally with a large order book - State-of-the-art manufacturing facilities with global certifications - Extensive pan-India retail network - Strong track record of financial performance - Experienced management team As of June 30, 2023, the company employed 1,019 full-time staff.