IPO-bound Waaree Energies appoints CEO


Indian solar manufacturer Waaree Energies Limited, which is looking to float an initial public offering to raise funds, has appointed Vivek Srivastava the chief executive officer with effect from August 30, 2021. In this role, Srivastava will be responsible for setting strategic goals, leading the development of the company’s short and long-term goals, and assessing, monitoring, and minimizing risks to the company, its subsidiaries, and other companies within the group.

Srivastava holds a bachelor’s degree in engineering from the Malaviya Regional Engineering College, Jaipur. He joins from Reliance BP Mobility Limited, where he served as the senior vice president.

Speaking on the appointment, Hitesh Doshi, chairman and managing director, Waaree Group, said, “I am delighted to welcome Vivek as our CEO. We believe Vivek has an exceptional leadership track record, strong international exposure, deep strategic expertise, a unique ability to forge long-standing client relationships, and proven experience of driving transformation and managing disruption.”

Waaree Energies has a solar PV module manufacturing capacity of 2 GW as of March 31, 2021. It is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to make an initial public offer of its equity shares and has filed a draft red herring prospectus (DRHP) with Securities and Exchange Board of India (SEBI). 

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