Waaree Energies Limited has reportedly started discussions with domestic and global investment banks for a proposed qualified institutional placement (QIP) as the solar equipment maker prepares for large-scale investments across batteries, solar manufacturing, electrolyzers and transmission infrastructure, as per The Moneycontrol report.
Waaree Energies had approved a fundraising plan of up to ₹10,000 crore on April 29 through one or more QIP issuances or alternative fundraising routes. The proposed transaction would mark the company’s first institutional fundraising exercise after its stock market listing in 2024.
As per the report, the company is currently evaluating potential investment banking partners, with formal appointments expected in the coming weeks.
The proposed fundraising comes at a time when renewable energy companies are witnessing improving sector sentiment due to rising focus on energy security amid geopolitical tensions in West Asia and volatility in global fuel markets.
During its Q4 FY26 earnings call, Waaree Energies outlined plans to invest nearly ₹30,000 crore over the next 2 years across the broader energy transition ecosystem.
The company intends to use the planned capital for backward integration, localisation of components, supply-chain strengthening, and expansion into adjacent clean-energy segments.
One of the largest planned projects is a 10 GW ingot-wafer manufacturing facility at Nagpur involving investment of around ₹6,200 crore.
Waaree also plans to establish a solar PV glass manufacturing plant with a capacity of 2,500 tonnes per day through an estimated investment of ₹3,900 crore.
Waaree is planning a ₹10,000 crore investment in order to build a 20 GWh battery manufacturing ecosystem which will cover LFP cells, battery packs and containers. The first 3.5 GWh phase is targeted for FY27, with the remaining 16.5 GWh to be added later.
The company also plans to expand transformer manufacturing capacity at its Rajasthan facility to 20,000 MVA with an investment of around ₹192 crore. In Gujarat, inverter manufacturing capacity is proposed to be increased to 4 GW through investment of about ₹180 crore.
Another planned project includes a 1 GW electrolyser manufacturing facility in Gujarat with expected investment of nearly ₹676 crore.
Waaree is also acquiring around 55% stake in Associated Power Structures for approximately ₹1,225 crore, marking its entry into the transmission and distribution infrastructure business.
Read More: Waaree Energies Share Price in Focus; Considers Building Solar Cell Unit in the US!
As of 13 May 2026, at 10:00 AM, Waaree Energies Ltd share price is trading at ₹3,088.50 per share, reflecting a decline of 1.17% from the previous closing price.
Waaree Energies is preparing for a major expansion across renewable energy manufacturing and infrastructure as the company strengthens its presence across the clean energy value chain through new investments and potential institutional fundraising.
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Published on: May 13, 2026, 10:38 AM IST
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