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Waaree Energies Commences 1.6 GW Solar Module Production in Texas

Written by: Team Angel OneUpdated on: Jan 23, 2025, 3:10 PM IST
Waaree Energies begins production of 1.6 GW solar modules in Texas while its share price fluctuates post-anchor lock-in expiry, sparking trading activity.
Waaree Energies Commences 1.6 GW Solar Module Production in Texas
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Founded in 1990, Waaree Energies Limited (WEL) has cemented its position as one of India’s largest solar PV module manufacturers. With an impressive installed capacity of 13.3 GW and a global footprint, the company has been pivotal in advancing sustainable energy solutions. Since 2007, WEL has focused on manufacturing solar PV modules, aiming to deliver high-quality, cost-effective renewable energy to markets worldwide. Its efforts contribute significantly to reducing carbon footprints and improving lives by promoting clean energy adoption.

Share Price Turbulence Following Anchor Lock-in Expiry

On January 22, 2025, Waaree Energies experienced a sharp share price decline of over 9%, marking its steepest single-day fall in two months. This drop coincided with the conclusion of the second lock-in period for anchor investors, leading to a significant surge in trading volumes.

Ahead of its October 2024 IPO, the company had allotted 84.96 lakh shares at ₹1,503 per share to 92 anchor investors. These shares were subject to a phased lock-in period: 50% for 30 days and the remaining 50% for 90 days from the date of allotment. The end of these restrictions often results in heightened market activity as investors exercise their options to sell.

A Glimpse of Recovery Amid New Beginnings

Despite the turbulence, Waaree Energies showed resilience on January 23, 2025, as its wholly owned subsidiary, Waaree Solar Americas Inc., began commercial production of a new 1.6 GW solar module line at its facility in Brookshire, Texas, USA. This significant milestone reflects the company’s commitment to expanding its international presence and addressing the growing demand for renewable energy solutions.

By mid-morning trading on January 23, 2025, the company’s stock displayed a marginal recovery, up 0.20%. This demonstrates a cautious yet positive investor sentiment as the market digests the news of Waaree’s operational expansion in the United States.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Published on: Jan 23, 2025, 3:10 PM IST

Team Angel One

Team Angel One is a group of experienced financial writers that deliver insightful articles on the stock market, IPO, economy, personal finance, commodities and related categories.

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