Waaree Energies Limited — Others, 09-05-2025: Monitoring Agency Report

Waaree Energies Ltd. has announced a monitoring report on the utilization of Rs. 3600 crore raised from its IPO. As of the quarter ended March 31, 2025, Rs. 647.56 crore has been deployed—mainly Rs. 646 crore for general corporate purposes and Rs. 1.56 crore for issue expenses. The key 6GW solar manufacturing project in Odisha remains pending, with Rs. 2775 crore parked in term deposits. Deployment of Rs. 275 crore was delayed due to vendor negotiations but is expected in FY 2025-26. Interest income has been earned on parked funds.