What does Waaree Energy Storage Solutions Private Limited do?

Waaree Energy Storage Solutions Private Limited is a subsidiary of Waaree Energies Limited focused on Battery Energy Storage Systems (BESS). The company delivers complex mechanical, electrical, and infrastructural energy storage solutions including skid packages and integrated storage systems for utilities, commercial, and industrial customers.

Is Waaree Energy Storage Solutions planning an IPO?

There is no publicly announced IPO plan for Waaree Energy Storage Solutions Private Limited specifically. However, the parent company Waaree Energies Limited successfully completed its IPO in October 2024, listing on Indian stock exchanges. The subsidiary may remain part of the listed parent entity.

What is the relationship between Waaree Energy Storage Solutions and Waaree Energies?

Waaree Energy Storage Solutions Private Limited is a wholly-owned subsidiary of Waaree Energies Limited. It was incorporated in 2020 specifically to house and grow the group's energy storage solutions business, separate from the core solar module manufacturing operations of the parent.

How do I buy Waaree Energy Storage Solutions unlisted shares here?

Raise an enquiry on any company with the quantity you want. Our desk sources the shares and comes back with a firm price and allocation. You accept the allocation, transfer the funds to the desk's published bank account, and once we verify payment the shares are transferred into your demat.

Who am I actually transacting with?

You transact with the desk, not with an anonymous counterparty. When you buy, you buy from the desk; when you sell, you sell to the desk. Shares always route through the desk's own demat account, so there's one accountable party for the whole trade.

How do I pay, and is there a payment gateway?

Payment is by direct bank transfer to Prospire Network Private Limited's published account (CIN U82300UP2025PTC233622), shown to you in-app at the payment step. There is no card gateway and no escrow. Never pay to a personal account or to any account shared over phone, WhatsApp or email — even if the person claims to be from our team.

How long does settlement take?

After you accept an allocation, you have a short window to pay (typically 2 days). Once payment is verified, shares are usually credited to your demat within 2–3 business days, subject to depository timelines and any company-level restrictions. Timeframes are typical, not guaranteed.

There are no separate platform fee lines and no GST on the transfer — the desk's margin is built into the buy/sell price you're quoted. The only statutory add-on on a purchase is stamp duty on the consideration, shown transparently in your cost breakdown.

Is there a minimum ticket size for Waaree Energy Storage Solutions?

Minimums vary by company and depend on the lot the desk can source. Raise an enquiry and the desk will confirm the available quantity and the minimum for that name.

What KYC do I need, and do I need a demat account?

You'll share your demat details when you enquire so we can settle directly. Full KYC — PAN and a client-master / demat statement — is required before the transfer step, when shares actually change hands. Yes, you need an active demat account to hold unlisted shares.

Are there lock-ins on unlisted or pre-IPO shares?

Some shares carry statutory or company-imposed lock-ins — for example, a post-listing lock-in on pre-IPO stock — and transfers can be subject to the company's articles or approvals. Where a lock-in applies, we'll flag it before you commit.

How do I sell Waaree Energy Storage Solutions shares I already hold?

Raise a sell enquiry with the company, quantity and your target price. The desk confirms a buying price, you transfer your shares into the desk's demat, and once the credit is verified we pay you out by bank transfer to your registered account. The desk never pays out before your shares are received.

Unlisted shares are illiquid, may be hard or impossible to sell, and are not covered by exchange settlement guarantees or investor-protection funds. Pricing is indicative, not live. Read the full Risk Disclosure before you enquire, and invest only what you can afford to lock away.

Waaree Energy Storage Solutions Unlisted Share Price | Buy Waaree Energy Storage Solutions Pre-IPO Shares — wisefolio

Q: Who are the promoters of Waaree Energy Storage Solutions?

Waaree Energy Storage Solutions Private Limited is promoted by and is a subsidiary of Waaree Energies Limited, one of India's largest solar photovoltaic module manufacturers. The Waaree Group is led by the Maheta family, with Hitesh Maheta as a key promoter.

Investment Thesis

Waaree Energy Storage Solutions Private Limited benefits from being part of the well-capitalized Waaree Group with its strong customer relationships and renewable energy ecosystem. The company is strategically positioned in the high-growth BESS segment, though as a young entity incorporated in 2020, it has yet to build a substantial independent track record. The parent's successful 2024 IPO improves the group's ability to fund storage business growth.

Pros

Subsidiary of Waaree Energies Limited, one of India's largest solar module manufacturers with significant manufacturing scale and brand credibility in the renewable energy space
Incorporated in 2020 to tap the fast-growing Battery Energy Storage Systems (BESS) market in India, which is expected to grow significantly as India pursues aggressive renewable energy targets
Leverages the parent group's existing relationships with utilities, IPPs, and industrial customers to cross-sell energy storage solutions alongside solar installations
BESS segment benefits from Indian government policy tailwinds including the National Energy Storage Mission and mandatory storage requirements for new renewable energy projects

Cons

Very young company incorporated in 2020 with limited operating track record in the competitive BESS market
As an unlisted private subsidiary, financial disclosures are limited making independent assessment of performance difficult
BESS market in India remains nascent, with competition from established global players like Tesla, BYD, and domestic companies entering the segment
Capital-intensive business requiring significant upfront investment in inventory and project execution capabilities

Business Segments

Battery Energy Storage Systems (BESS)

Design, supply, and integration of battery energy storage systems including skid packages for grid-scale and commercial/industrial applications

EPC & Infrastructure

Mechanical, electrical, and infrastructural solutions for energy storage projects including civil and electrical balance of system

Revenue Model

Project-based revenue from design, supply, and commissioning of BESS projects for utilities, renewable energy developers, and industrial customers. Revenue recognized on project completion milestones.

Detailed Analysis

Growth outlookExpansion plans, industry tailwinds & headwinds9

Growth Plans

India's target of 500 GW renewable energy capacity by 2030 creating large demand for grid-scale storage

Government mandates for storage with new renewable energy tenders

Parent Waaree Energies' post-IPO capital availability for subsidiary expansion

Industry Tailwinds

India's target of 500 GW renewable energy capacity by 2030 creating large demand for grid-scale storage

Recent Developments

Parent Waaree Energies IPO

Parent company Waaree Energies Limited completed its IPO in October 2024, raising significant capital that could support expansion of energy storage business

2024-10

Comparable Companies

CompanyTypeTickerMkt Cap

Amara Raja Energy & MobilityListedARE&M~8000 Cr

Exide IndustriesPE: ~30xxListedEXIDEIND~20000 Cr

Waaree Energies LimitedListedWAAREEENER~50000 Cr

Amara Raja Energy & MobilityListed

ARE&M · ~8000 Cr

Frequently Asked Questions

About Waaree Energy Storage Solutions

Waaree Energy Storage Solutions Private Limited is a wholly-owned subsidiary of Waaree Energies Limited, one of India's largest solar photovoltaic (PV) module manufacturers. Incorporated on February 4, 2020 under its earlier name Sangam Solar Two Private Limited, the company was subsequently renamed and repositioned to spearhead the Waaree Group's foray into the rapidly expanding battery energy storage systems (BESS) market in India. Headquartered in Mumbai, Maharashtra, the company is registered at 602, 6th Floor, Western Edge-I, Western Express Highway, Borivali (East), Mumbai. It operates under the parent entity's vision of becoming a comprehensive clean energy solutions provider across solar generation, storage, and grid management. The company focuses on developing, supplying, and deploying utility-scale and commercial & industrial (C&I) energy storage solutions. Battery Energy Storage Systems (BESS) are critical to India's energy transition, enabling grid stability, peak shaving, frequency regulation, and integration of intermittent renewable energy sources such as solar and wind. As India aggressively pursues its 500 GW non-fossil fuel target by 2030 and the National Storage Mission gathers momentum, companies like Waaree Energy Storage Solutions are positioned at the intersection of policy push and market demand. The parent company, Waaree Energies Limited, has an installed solar module manufacturing capacity exceeding 13.3 GW and holds a credit rating of CARE A+ (Stable) as of 2025. The group's deep manufacturing capabilities, established supply chains, and customer relationships across IPPs (Independent Power Producers), state DISCOMs, and commercial customers provide Waaree Energy Storage Solutions with significant competitive advantages in customer acquisition and project execution. With an authorised share capital of ₹1,500 crore and paid-up capital of ₹300 crore, the company is substantially capitalised for a startup entity, reflecting the parent group's serious commitment to this vertical. The company reported zero revenue in FY2024, indicating it is still in the pre-revenue or early deployment phase, consistent with its role as a vehicle for the group's storage strategy as projects are structured and commissioned. The global push toward energy independence, decarbonisation of grids, and the declining cost curves for lithium-ion and alternative battery chemistries make this an opportune time for a well-capitalised Indian conglomerate to establish a foothold in storage. The company's directors include Pujan Doshi, Aditya Agarwal, and Ankit Doshi — part of the founding family and senior management of the Waaree Group — ensuring continuity of vision and strategic alignment with the parent's broader clean energy mission.

Common questions about unlisted shares

How do I buy Waaree Energy Storage Solutions unlisted shares here?
Raise an enquiry on any company with the quantity you want. Our desk sources the shares and comes back with a firm price and allocation. You accept the allocation, transfer the funds to the desk's published bank account, and once we verify payment the shares are transferred into your demat.
Who am I actually transacting with?
You transact with the desk, not with an anonymous counterparty. When you buy, you buy from the desk; when you sell, you sell to the desk. Shares always route through the desk's own demat account, so there's one accountable party for the whole trade.
How do I pay, and is there a payment gateway?

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