Waaree Energies gets order for supply of solar modules, stock gains

Shares of Waaree Energies rose marginally on Thursday after the solar PV module manufacturer received an order for supply of solar modules for 150 MWp from a renowned customer engaged in the business of owning, developing and operating renewable power projects in India. The stock climbed 0.57% to Rs 2877.35 against the previous close of Rs 2860.80. The market cap of the firm stood at Rs 81,548 crore mark.

Total 0.24 lakh shares of the firm changed hands amounting to a turnover of Rs 6.76 crore on BSE.

"The Company has today received an order for supply of solar modules for 150 MWp from a renowned customer engaged in the business of owning, developing and operating renewable power projects in India," said Waaree Energies.

The supply of modules is scheduled to commence in FY 2025-26.

The initial public offering (IPO) of Waaree Energies was open from October 21 to October 23, 2024. The Mumbai-based firm garnered Rs 4,321.44 crore from its IPO, which included a fresh share sale of Rs 3,600 crore and offer-for-sale (OFS) of up to 48 lakh equity shares.

Waaree Energies is an Indian manufacturer of solar PV modules with an aggregate installed capacity of 12 GW. Its product portfolio includes solar energy products consisting of the PV modules such as multicrystalline modules; Monocrystalline modules; and TopCon modules.