Waaree Energies Limited's subsidiary, Waaree Energy Storage Solutions Pvt Ltd (WESSPL), has successfully completed a major funding round, raising ₹1,003.00 crores from strategic investors including family offices, high-net-worth individuals, and institutional backers. This significant capital infusion marks a substantial milestone for the company's energy storage division and reflects strong investor confidence in India's renewable energy sector.

Strategic Manufacturing Initiative

The fundraising is part of an ambitious ₹10,000.00 crore capex plan for establishing a 20 GWh advanced lithium-ion cell and battery pack manufacturing facility. This strategic investment positions WESSPL at the forefront of India's energy storage ecosystem and directly supports the nation's clean energy transition objectives.

Manufacturing Focus and Applications

The planned facility will focus on producing high-performance cells and battery packs tailored for multiple applications including utility-scale storage systems, electric mobility, and distributed energy applications. The facility represents a significant expansion in India's domestic energy storage manufacturing capacity and is designed to reduce import dependence for battery technology. This capacity expansion complements Waaree Group's existing solar module and inverter manufacturing operations, positioning the company as an integrated renewable energy solutions provider.

Leadership Perspective

Commenting on the fund raise, Mr. Ankit Doshi, Director of WESSPL, stated: "This successful fund raise underscores the confidence that our investor community places in our vision to build world-class energy storage manufacturing in India. With these strategic resources, we will fast-track the commissioning of our 20 GWh cells and battery pack facility, strengthen domestic supply chains, and contribute to the growth of India's energy storage capacity."

Strategic Market Position and Stock Performance

With this investment, Waaree Group is evolving into a fully integrated energy transition player, spanning solar modules, inverters, batteries, energy storage systems, and emerging clean energy technologies. The 20 GWh facility will serve as a cornerstone in achieving India's strategic objective of fostering deeper domestic manufacturing in energy storage technologies while reducing reliance on imports.

The project aims to generate employment and drive technological innovation in the storage sector while supporting grid stability, renewable energy integration, and transport electrification. This initiative supports national sustainable energy goals while enhancing local manufacturing capabilities in the energy storage ecosystem.

Waaree Energies shares gained 0.80% to ₹3,001.40 following the announcement of a major solar module order and significant management changes. The company secured a substantial 1,500 MW solar module order from a renowned domestic client engaged in power generation, transmission and distribution.

Major Solar Module Order Details

The comprehensive order encompasses 1,500 MW of solar modules scheduled for delivery during FY 2026-27. The company disclosed this significant business development through regulatory filings to stock exchanges, providing detailed contract specifications.

Stock Performance and F&O Listing

Waaree Energies shares were trading 0.80% higher at ₹3,001.40 on Wednesday, reflecting positive market sentiment following the order announcement. The stock has corrected approximately 23% from its post-listing high of ₹3,865.00. Additionally, the company entered the Futures and Options segment with F&O contracts for the January series and subsequent expiries becoming available for trading.

Leadership Transition and Management Changes

The company announced significant management changes with the resignation of Whole Time Director and Chief Executive Officer Amit Paithankar on December 29. Paithankar has decided to step down to pursue opportunities outside the organization, with his relief effective from May 15, 2026, or an earlier mutually decided date.

Strategic Implications

The board has approved the appointment of Jignesh Rathod, currently Director Operations, as Chief Executive Officer designate with immediate effect. Rathod will formally assume charge as Chief Executive Officer and key managerial personnel from May 16, 2026, or earlier, subject to Paithankar being relieved sooner. The substantial solar module order demonstrates the company's capability to serve large-scale projects while meeting both DCR compliance requirements and standard module specifications, providing clear visibility for production planning and capacity utilization through FY 2026-27.