Waaree Energies shares rise 6% on F&O inclusion, $30-mn investment in United Solar

Waaree Energies shares rise 6% on F&O inclusion, $30-mn investment in United Solar

Shares of Waaree Energies climbed 6% on the stock's inclusion in futures and options, US subsidiary's $30-million strategic investment in United Solar Holding Inc to "strengthen and secure solar supply chain".

Swiggy, Waaree Energies, Premier Energies and Bajaj Holdings & Investment will be admitted to the Futures & Options (F&O) segment with effect from December 31, 2025, the National Stock Exchange (NSE) said on December 18.

The market lot size and strike scheme for the four stocks will be announced on December 30 through a separate circular.

On December 19, Waaree Energies shares closed 6% higher at Rs 3,057 apiece.

Meanwhile, on December 19, Waaree Energies Ltd announced that its subsidiary, Waaree Solar Americas Inc, has signed a deal with United Solar Holding Inc to buy around 5.37 million series B shares for $30 million, the company said in an exchange filing. The agreement is likely to be completed by January 31.

United Solar Holding is a leading producer of high-purity polysilicon, a vital component for the solar industry, operating one of the world's most advanced manufacturing facilities in Oman, the company said. United Solar was incorporated in May 2023.

Waaree’s investment will support completion of United Solar’s advanced manufacturing facility in Oman’s Sohar Freezone, which is designed to produce 100,000 metric tons of polysilicon per year, enough to support 40GW of solar module production per year. United Solar backed by its largest shareholder, the Oman Investment Authority, is expected to build one of the largest and most cost competitive solar polysilicon manufacturing facilities globally.

Hitesh C. Doshi, Chairman and Managing Director of Waaree Group said: “This strategic investment in United Solar is a decisive step in strengthening Waaree’s long-term, secure, and fully traceable polysilicon supply chain to support our rapidly expanding U.S.A. and global manufacturing footprint. As Waaree scales its solar module and cell capacities worldwide, access to reliable, cost-competitive, and geopolitically diversified upstream materials is critical to delivering certainty to our customers and partners. United Solar’s world-class polysilicon facility in Oman represents a credible and resilient alternative that aligns with our commitment to supply chain transparency, energy security, and sustainable growth. This partnership also reflects the deepening economic collaboration between India and Oman, and our shared ambition to build a more balanced and resilient global solar ecosystem."

Sam Zhang, Chairman, United Solar Holding Inc. said: “We are proud to have Waaree, one of the largest global solar manufacturers, as one of our investors and customers. This is a testament to United Solar’s unique position as a leader in the polysilicon industry and Waaree’s commitment to supporting reliable polysilicon sources and contributing to a more secure and diversified solar supply chain.”