Intimation under Regulation 30-Notice of Postal Ballot including details of e-voting.
WAAREEENER · price
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Waaree Energies Ltd is seeking shareholder approval via postal ballot for three resolutions. First, the appointment of Mr. Jignesh Devchandbhai Rathod (DIN: 11121448) as a Director of the Company. Second, his appointment as Whole-Time Director and CEO for a period of 5 years from March 21, 2026 till March 20, 2031 along with remuneration. Third, approval to raise capital up to ₹10,000 crore through a Qualified Institutions Placement (QIP) by issuing equity shares or other eligible securities. The e-voting period runs from May 15, 2026 to June 13, 2026. Mr. Rathod was previously appointed as Additional Director from March 21, 2026 and this postal ballot seeks to formalize his appointments. The QIP is a Special Resolution requiring 75% shareholder approval.
The CEO appointment formalizes leadership changes at Waaree Energies. More significantly, the ₹10,000 crore QIP represents a massive dilutive capital raise that could substantially impact existing shareholders' ownership stakes and signaling aggressive expansion or funding needs.