The Exchange has sought clarification from Waaree Energies Limited with respect to recent news item captioned Andhra secures Waaree Energies battery giga-factory with ₹8,175 crore investment. The response from the Company is attached.
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The NSE asked Waaree Energies to clarify a recent news report about setting up a battery giga-factory in Andhra Pradesh with an investment of around ₹8,175 crore. The company has submitted its response to the exchange, which is attached with the filing. This is a large-scale investment announcement in the company's energy storage and battery manufacturing business.
If confirmed, this ₹8,175 crore investment could significantly expand Waaree Energies' manufacturing footprint in batteries, potentially boosting long-term growth prospects but also raising capex and execution risks for shareholders to watch.