Key Highlights
- Waaree Energies invests ₹300 crore in subsidiary Waaree Energy Storage Solutions Pvt. Ltd.
- Funds to be utilised for setting up a lithium-ion advanced chemistry storage cell manufacturing plant
- Investment made through 60 crore partly paid-up equity shares of face value ₹10 each issued via rights issue
- ₹5 per share has been paid on application and the remaining ₹5 is payable on call
- Subsidiary remains wholly owned with no change in shareholding structure
- WESSPL reported nil turnover for FY 2025 and the past three financial years
Waaree Energies Limited has announced an investment of ₹300 crore in its wholly owned subsidiary, Waaree Energy Storage Solutions Private Limited (WESSPL), through a rights issue. The investment aligns with the company’s expansion into advanced energy storage technologies.
According to the regulatory filing, the infusion was made via the allotment of 60 crore partly paid-up equity shares at a face value of ₹10 each. An amount of ₹5 per share has been paid on application, with the remaining ₹5 payable on call.
WESSPL, incorporated in February 2020, operates within the renewable energy sector and is focused on developing lithium-ion advanced chemistry storage cell manufacturing facilities. The company reported nil turnover for the past three financial years, and the latest financial year ending 2025.
Despite the fresh capital infusion, WESSPL will continue to remain a wholly owned subsidiary of Waaree Energies Limited. No regulatory approvals were required for this transaction.
Waaree Energies, a leading player in India’s renewable energy space, stated that this strategic move is aimed at strengthening its presence in the energy storage solutions market, a critical segment supporting India’s renewable energy transition.