Mumbai: WAAREE Energies Limited has announced the appointment of Mr. Vivek Srivastava as Chief Executive Officer with effect from August 30, 2021. He holds a bachelor’s degree of engineering from the Malaviya Regional Engineering College, Jaipur. He is currently responsible for, inter alia, setting strategic goals, leading the development of our Company’s short and long-term goals and assessing, monitoring and minimising risks to our Company, its subsidiaries and other companies within the group. He was previously associated with Reliance BP Mobility Limited as the senior vice president.
Speaking on this Development, Mr Hitesh Doshi, Chairman and Managing Director, WAAREE Group expressed, “I am delighted to welcome Vivek as our CEO. We believe Vivek has an exceptional leadership track record, strong international exposure, deep strategic expertise, a unique ability to forge long-standing client relationships, and proven experience of driving transformation and managing disruption.”
On the Appointment, Mr. Vivek Srivastava, CEO, WAAREE Energies Ltd stated, “I am very excited about joining. I believe Waaree has a competent and capable team of professionals.”
About WAAREE Energies:
Waaree Energies is one of the major players in the solar energy industry in India focused on PV module manufacturing, with an aggregate installed capacity of 2 GW as of March 31, 2021. (Source: CRISIL Report). It has a solar energy product portfolio consisting of the following PV modules: (i) multicrystalline modules; and (ii) monocrystalline modules, comprising Merlin flexible modules and monocrystalline passivated emitter and rear cell modules, which includes bifacial modules (framed and unframed), building integrated photo voltaic modules. It operates three manufacturing facilities comprising four factories at Surat, Tumb and Nandigram in Gujarat, India.
Waaree Energies Limited is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to make an initial public offer of its equity shares and has filed a draft red herring prospectus (“DRHP”) with Securities and Exchange Board of India (“SEBI”). The DRHP is available on the website of the SEBI at www.sebi.gov.in as well as on the websites of the book running lead managers, Axis Capital Limited, HSBC Securities and Capital Markets (India) Private Limited, ICICI Securities Limited and Intensive Fiscal Services Private Limited, respectively, and the websites of the stock exchange(s) at www.nseindia.com and www.bseindia.com. Any potential investor should note that investment in equity shares involves a high degree of risk and for details relating to such risk, see “Risk Factors” of the RHP, when available. Potential investors should not rely on the DRHP for any investment decision.
This announcement is not an offer for sale of securities in the United States. The equity shares of the Company may not be sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended. The Company does not intend to register any portion of the offering of the securities in the United States or to conduct a public offering of the securities in the United States.
