Waaree Energies Limited has informed the Exchange that the Board of Directors has approved Raising of Funds through QIP for an aggregate amount not exceeding Rs. 10,000 crores subject to such regulatory/statutory approvals as may be required and the approval of shareholders of the Company.
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Waaree Energies Board has approved raising up to Rs. 10,000 crores via QIP (Qualified Institutional Placement) through equity shares, NCDs, warrants or other eligible securities. The company reported strong FY2026 consolidated results with revenue of Rs. 26,536.77 crores (up 84% YoY) and net profit of Rs. 3,884.15 crores (up 101% YoY). The Board recommended a final dividend of Rs. 2 per share (20%). Additionally, the company approved acquiring 100% of Waaree Semicon Private Limited for Rs. 1 lakh cash from its promoter group to enter semiconductor products like PV diodes, IGBTs and MOSFETs. The filing also notes a US Customs investigation with Rs. 294.78 crore provision and an ongoing Income Tax investigation in India.
The massive Rs. 10,000 crore QIP signals significant equity dilution for existing shareholders. However, the strong financial performance and strategic semiconductor acquisition demonstrate continued growth momentum. Shareholders should monitor QIP pricing details as this could impact per-share value.