Waaree Energies Limited announced that its subsidiary, Waaree Energy Storage Solutions Private Limited (WESSPL), plans to offer a private placement of its equity shares. This offering allows investors to subscribe up to 10.07% of WESSPL’s share capital, with the aim of facilitating capital infusion for business expansion. Post-completion, WESSPL will remain a subsidiary of Waaree Energies.
Share Subscription Agreement
Waaree Energies Limited has entered into a Share Subscription cum Shareholder’s Agreement (SSSHA) with its wholly-owned subsidiary, Waaree Energy Storage Solutions Private Limited (WESSPL). This agreement involves a private placement offering for certain investors.
Private Placement Details
Under the terms of the SSSHA, WESSPL intends to offer its equity shares through private placement, allowing investors to subscribe to a maximum of 10.07% of WESSPL’s share capital. The primary purpose of this transaction is to facilitate capital infusion, supporting WESSPL’s business expansion plans.
Subsidiary Status
Upon completion of the private placement, WESSPL will continue to operate as a subsidiary of Waaree Energies Limited.
Source: BSE
