Markets
Renewables

500 times return in 4 years: How a Mumbai solar firm found its place in the sun

500 times return in 4 years: How a Mumbai solar firm found its place in the sun
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Synopsis

After its listing in October 2012 at an offer price of INR22 per share, Waaree Renewable languished below INR10 for eight years. Its meteoric rise to INR2,600 apiece in the last four years is a laggard-to-leader story.

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6 mins read, Last Updated:
A mind-boggling 49,900% rise. That's what Waaree Renewable Technologies Limited has returned to its investors in the last four years. Waaree Renewable was listed in October 2012 at an offer price of INR22 per share. It then languished below INR10 per share for the next eight years. Everyone thought the stock would fade into oblivion, as the Mumbai-based solar engineering and procurement and construction (EPC) company with 75% promoter holdings

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