Waaree Renewable Technologies Ltd. Company History and Annual Growth Details

Our Company was incorporated as Sangam Advisors Private Limited on June 22, 1999 under the Companies Act, bearing Registration No. 120470 of 1999 having its Registered Office at Mumbai, Maharashtra, India. Subsequently, the Company became a Public Limited Company in pursuance to a special resolution passed by the members of our Company at the Extraordinary General Meeting held on November 15, 2011. The fresh Certificate of Incorporation consequent to change of name as a result of conversion to a public limited company was issued on November 18, 2011 by the Registrar of Companies, Mumbai, Maharashtra. The CompanyÂs Corporate Identity Number is U74140MH1999PLC120470.

Our Company was originally promoted by Mr. Bhanwarlal Toshniwal, Ms. Deepa Toshniwal and Ms. Neelam Toshniwal who were the original subscribers to the CompanyÂs Memorandum and Articles of Association in the year 1999. In 2010, the Company was taken over by M/s. Giza Estates Private Limited.

Key Events and Milestones of Our Company

Year Milestone

1999

-Incorporation as Sangam Advisors Private Limited

2010

-The management of the Company was taken over by Giza Estates Private Limited

2011

-Bonus Issue in the ratio of 3.5:1

2012

-Sangam Advisors gets its shares listed on the Exchange in the list of 'MT' Group Securities.

2014
- Sangam Advisors Ltd has allotted 36,35,959 equity shares of Rs. 10/- each as fully paid-up bonus shares to the equity shareholders of the Company in the proportion 57:100 i.e. 57 equity share as fully paid bonus share for every 100 equity share.
-Sangam Advisors has announces bonus in the ratio of 57:100

2017

-Company receive'Letter of Award' by Maharashtra State Power Generation Corporation (MAHAGENCO).

2018

-Company name has changed to Sangam Renewables Ltd. from Sangam Advisors Ltd.

2021

-Company name has changed to Waaree Renewable Technologies Ltd. from Sangam Renewables Ltd.

-Company has received a letter of award (LOA) from India-focused renewable energy group for Engineering, Procurement, and Construction.

-Company has received an order from Masaya Solar Energy Private Limited For executing solar power project.

-Company has successfully commissioned the 16 MW mounted solar project in Gavhankund, Maharashtra.

-Company has bagged multiple orders for executing solar power project with a combined capacity of 18.40 MW an Engineering, Procurement, and Construction.

2018
-Company name has changed to Sangam Renewables Ltd. from Sangam Advisors Ltd..Â

2021Â

-Company name has changed to Waaree Renewable Technologies Ltd. from Sangam Renewables Ltd.

-The Company has received a letter of award (LOA) from India-focused renewable energy group for Engineering, Procurement, and Construction (EPC) turnkey and works contract for setting up 140 MW DC Solar Power Plant in the state of Gujarat.

-The Company has received an order from MASAYA SOLAR ENERGY PRIVATE LIMITED for executing solar power project

-The Company has successfully commissioned the 16 MW mounted solar project in Gavhankund, Maharashtra under the Agri feeder scheme of Maharashtra Government for MAHAGENCO.

-The Company has bagged multiple orders for executing solar power project with a combined capacity of 18.40 MWdc on an Engineering, Procurement, and Construction (EPC) contract basis by signing term sheet and receipt of LoA from customers.

2022

-The Company has received a letter of award (LOA) from India-focused Renewable Energy Group.

-Approved the Scheme of Amalgamation ('Scheme') for merger of three wholly owned subsidiaries, Sangam Rooftop Solar Private Limited, Waaree PV Technologies Private Limited and Waasang Solar Private Limited with the Company

2023

-The Company have successfully commissioned 70 MW DC solar power project for the customer out of aforesaid 140 MW DC capacity in two phases.

-The Company have received a work order of Turnkey EPC job work for Engineering, Procurement and Construction (EPC) services in respect of setting up of a solar power project of 36 MWp DC capacity.

-The Company have successfully commissioned 122.50 MW DC solar power project for the customer out of aforesaid 210 MW DC capacity

-The company has collaborated with 5B Maverick Services PTY Ltd., Australia

2024

-The Company has splits its face value from Rs. 10/- to Rs. 2/-.

-Waaree Renewable Technologies has secured an order worth Rs 1,233.47 crore to set up a ground-mount solar PV project of 2,012.47 MWp DC capacity.

-The Company has received LOA for turnkey EPC Works of 1.090 MWp DC floating solar project.

2025

-The company has secured a 40 MWh battery storage contract from Continuum Green Energy.

-The company has secured an order worth Rs 1,252.43 crore from Waaree Forever Energies Pvt Ltd (WFEPL) for a solar power project.

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