Company Clarification on News Article
Trading Symbol: WAAREEENER (NSE)
Summary of Clarification
Waaree Energies Limited has issued a clarification in response to a news article and subsequent queries from the stock exchanges (BSE and NSE) regarding a reported investment.
Date and Nature of Exchange Query
This communication, dated November 12, 2026, is a response to an email from the exchanges dated November 11, 2026. The query sought clarification on a news article published by the Economic Times on November 11, 2026, titled "Waaree Energies to invest ₹15,000 cr in green ammonia project in Andhra".
Company’s Clarification on Project and Trading
The company clarified that its wholly-owned subsidiary, Waaree Clean Energy Solutions Private Limited (WCESPL), had submitted an application to the Andhra Pradesh Government in May 2026 for approval of a proposed 1.2 million ton per annum green ammonia project to be located in Kakinada, Andhra Pradesh. The Andhra Pradesh Government accorded its approval for this project via a Government Order (GO) dated August 25, 2026. The formal handover of this GO is scheduled to occur at the 31st CII Partnership Summit in Visakhapatnam on the date of this letter (November 12, 2026).
The company explicitly stated that the reported ₹15,000 crore investment is subject to approval from its own Internal Investment Committee and its Board of Directors. Regarding the movement in its share price, the company attributed it to being "market driven" and confirmed that there is no Unpublished Price Sensitive Information pending disclosure. The company also confirmed that no regulatory or legal proceedings have been initiated concerning this matter.