Web Exclusive | August 2013
PE funding amounting to Rs 300 crore for Waaree Group
Mumbai based Waaree group with prime focus on solar energy solutions and industrial valves is expecting Rs 300 crore in two phases as part of Private Equity (PE) funding. The company is expecting to raise Rs 150 crore over the next six months, Waaree group chairman and managing director Hitesh Doshi told leading Financial Daily.
On the energy front, the solar solutions business segment is growing at a CAGR of 160 per cent. The solar business has touched a revenue base of Rs 310 crore in the last fiscal and the projected turnover for the current fiscal is Rs 800 crore.