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Websol Energy Raises ₹48 Crore From Promoters Through Share Issue Photograph: (Archive)
Indian solar cell and module manufacturer Websol Energy System Limited has raised about Rs 48 crore from its promoter group after issuing new equity shares to a promoter-owned entity, the company said in a regulatory filing. The promoters are led by Sohan Lal Agarwal, who is also the Chairman of the firm.
The solar manufacturing firm allotted Rs 1.21 crore equity shares to Websol Green Projects Private Limited, a promoter group company, after it paid the remaining amount required to convert previously issued warrants into shares. The funds — amounting to Rs 48.09 crore — were received after the investor paid the balance of the issue price linked to the warrants that were originally issued in September 2024.
Following the payment, the company converted the warrants into equity shares and completed the allotment at a board meeting held on March 13, 2026. The shares were issued at an adjusted price of ₹53 per share after accounting for a stock split carried out by the company last year.
With this allotment, Websol’s paid-up equity capital has increased to ₹434.16 million, comprising more than 434 million equity shares with a face value of Re 1 each. The newly issued shares will carry the same rights as the existing shares of the company.
The company said the conversion and share allotment were carried out in accordance with regulatory norms and have been disclosed to the National Stock Exchange of India and BSE Limited. The capital infusion comes as the company looks to strengthen its finances and support its operations in India’s growing solar manufacturing sector.
Websol specializes in producing high-efficiency solar cells and modules incorporating advanced Mono PERC technology. The company supplies solar cells primarily within India, supporting module manufacturers to comply with Domestic Content Requirement (DCR) norms, while its modules are marketed both in India and internationally. Its manufacturing facility is located at Falta Special Economic Zone in West Bengal, operates with a current solar cell capacity of 1,200 MW and module capacity of 550 MW. The facility is designed to process wafers up to 210 mm. Websol’s integrated production model, manufacturing both cells and modules in-house, enhances supply chain control and flexibility to address market dynamics.
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