Waaree Energies Ltd

Waaree Energies Ltd. announced a significant consolidation of its manufacturing facilities, relocating plants from Tumb and Nandigram to its existing Chikli, Gujarat facility for operational efficiency. The company also approved a capital expenditure of approximately US$37 million for its US subsidiary, Waaree Solar Americas Inc. (WSA), to upgrade its Arizona facility. This upgrade will increase WSA's manufacturing capacity from 1 GW to 1.6 GW, boosting the company's total US capacity to 4.8 GW. Additionally, the board approved the appointment of Ms. Mona Bhide as an Additional Non-Executive Independent Director and noted the cessation of Ms. Richa Goyal's tenure. The company also announced the 36th AGM on September 24, 2026, and set September 11, 2026, as the record date for the final dividend for FY 2025-26.

Waaree Energies Ltd. announced its Board of Directors has approved the record date for the final dividend for FY 2025-26 as Friday, September 11, 2026. The company also approved consolidating manufacturing facilities, a US$37 million capital expenditure for its US subsidiary to enhance module manufacturing capacity, and the appointment of Ms. Mona Bhide as an Additional Non-Executive Independent Director. Ms. Richa Goyal will cease to be an Independent Director upon completion of her term. The 36th Annual General Meeting is scheduled for September 24, 2026.

Waaree Energies Limited's Board of Directors met on August 29, 2026, approving significant strategic decisions. These include consolidating manufacturing facilities by relocating plant and machinery to Chikhli, Gujarat. Additionally, a capital expenditure of approximately US$37 million was approved for Waaree Solar Americas Inc. to revamp its Arizona facility, increasing its capacity from 1 GW to 1.6 GW and bringing the US aggregate capacity to 4.8 GW. The board also approved the appointment of Ms. Mona Bhide as an Additional Non-Executive Independent Director and noted the completion of Ms. Richa Goyal's term. The 36th Annual General Meeting is scheduled for September 24, 2026, with September 11, 2026, set as the record date for the final dividend for FY 2025-26.

Waaree Energies Limited announced the appointment of Ms. Mona Bhide as an Additional Non-Executive Independent Director for a five-year term starting August 30, 2026. The board also approved consolidating manufacturing facilities by relocating plants to Chikhli, Gujarat. Additionally, Waaree Solar Americas Inc. will invest approximately US$37 million to revamp its Arizona facility, increasing its capacity to 1.6 GW and the company's aggregate US manufacturing capacity to 4.8 GW. The company also announced the completion of Ms. Richa Goyal's term as an Independent Director. The 36th AGM will be held on September 24, 2026, with a record date of September 11, 2026, for final dividend consideration.

Waaree Energies Limited announced the completion of Ms. Richa Goyal's first five-year term as a Non-Executive Independent Director, effective August 29, 2026. The company's board expressed gratitude for her contributions. The board meeting also approved consolidation of manufacturing facilities, a US$37 million capital expenditure for a subsidiary's US facility revamp, and the appointment of Ms. Mona Bhide as an Additional Non-Executive Independent Director. Additionally, the notice for the 36th AGM and the record date for the final dividend for FY25-26 were approved.

Waaree Energies Ltd announced that its wholly owned subsidiary, Waaree Forever Energies Private Limited (WFEPL), has received a Letter of Award (LOA) from the Solar Energy Corporation of India Limited (SECI). The LOA is for the development of a 700 MW Solar and 700 MW/2800 MWh Energy Storage Solution (ESS) Renewable Energy Power Project in Solapur, Maharashtra. The Power Purchase Agreement (PPA) is valid for 25 years from the scheduled commencement of supply date. This significant award underscores the company's growing presence in the renewable energy sector and its capability to undertake large-scale integrated solar and storage projects.

Waaree Energies Ltd. announced that the Directorate of Revenue Intelligence (DRI) conducted a search at its wholly owned subsidiary, Sangam Solar One Private Limited's manufacturing plant in Navsari, Gujarat. The search, which began on August 27, 2026, pertained to the classification of imported stainless-steel pipes and tubes under the EPCG Scheme and the applicability of Anti-Dumping Duty (ADD). The company has already paid the disputed ADD amount of ₹2,33,82,930 along with interest, and stated that there is no further payment required and no impact on its financials or operations beyond this amount.

Waaree Power Private Limited (WPPL), a wholly owned subsidiary of Waaree Energies Ltd., along with its subsidiary Waaree Semicon Private Limited, has entered into a Joint Venture Agreement with SmartenGrand Ltd (SGL). The JV aims to manufacture and supply semiconductor products, including power application diodes, and establish a semiconductor fabrication unit in Gujarat, India. WPPL will hold an 86.83% stake and SGL will hold 13.17% in Waaree Semicon. This venture leverages SGL's technology and Waaree's infrastructure and market presence to offer competitive products.

Waaree Energies Ltd announced that its wholly-owned subsidiary, Waaree Forever Energies Private Limited (WFEPL), and WFEPL's subsidiary, Solaris Horizon Energy Private Limited (SHEPL), have entered into agreements with Ultratech Cement Limited (UCL). These include a Share Subscription and Shareholders' Agreement (SSHA) and an Energy Supply Agreement (ESA). Under the SSHA, UCL will subscribe to 26% of SHEPL's equity. The ESA pertains to the supply and offtake of electricity generated from a project undertaken by SHEPL. SHEPL was incorporated in FY2025-26 as a special purpose vehicle and has yet to commence business. The transaction is expected to be completed within 180 days, with a cash consideration of INR 27.755 crore subject to equity subscription.

C.T. Doshi Family Trust, a promoter group entity of Waaree Energies Limited, has acquired 12,69,82,903 equity shares, representing 44.14% of the total equity, from Mr. Chimanlal Tribhuvandas Doshi. This acquisition was executed as an inter-se transfer of shares by way of gift, aimed at streamlining succession and intergenerational wealth transfer. The transaction is exempt from open offer obligations under SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011, due to an exemption order granted by SEBI. The acquisition was completed on July 16, 2026, and the necessary disclosures have been made to SEBI and the stock exchanges.