Waaree Energies has signed a Share Subscription Agreement with its subsidiary WESSPL and investors for a private placement of shares up to 10.07%, aimed at capital infusion for business expansion. WESSPL will remain a subsidiary post-transaction, reinforcing Waaree's strategic growth in energy storage solutions.
Waaree Energies Limited has taken a strategic step to accelerate its business expansion by entering into a Share Subscription cum Shareholder’s Agreement (SSSHA) with its wholly owned subsidiary, Waaree Energy Storage Solutions Private Limited (WESSPL), along with select investors. This agreement enables the infusion of fresh capital into WESSPL, an entity crucial for the company’s growth in the energy storage segment.
As per the agreement, WESSPL plans to offer equity shares through a private placement, allowing investors to subscribe to up to 10.07% of WESSPL's share capital. This transaction aims to bolster the subsidiary’s financial strength to support its business operations and expansion plans. Notably, even after this capital infusion, WESSPL will remain a subsidiary under the ownership umbrella of Waaree Energies Limited.
Key Highlights:
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Waaree Energies signs an important Share Subscription Agreement with its subsidiary WESSPL and external investors.
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WESSPL to offer equity shares for private placement targeting up to 10.07% share capital subscription.
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The capital infusion supports WESSPL’s business expansion in the growing energy storage sector.
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WESSPL continues to be a wholly owned subsidiary of Waaree Energies post-transaction.
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This move aligns with Waaree Energies’ broader strategic growth objectives in renewable energy infrastructure.
This investment highlights Waaree Energies’ commitment to strengthening its footprint in the renewable energy sector, particularly energy storage solutions, which are vital for sustainable power systems. WESSPL’s enhanced capital base will enable new project developments, technology upgrades, and operational scalability, contributing to Waaree Energies’ long-term growth trajectory.
Source:
Waaree Energies Limited official announcement