Waaree promoter to give 1% equity stake to charity

Mumbai: The promoter family of Waaree Energies will donate 1% of its equity share capital towards charity, the renewable energy company said in a regulatory filing on Monday.

"The promoter family of Waaree, has committed to donate 1% of the equity share capital of the company towards charitable purposes," it said in a filing with the BSE.

The announcement was made at the company's 35th annual general meeting.

"We as the promoter family of Waaree, are deeply grateful to society and committed to giving back. We as a family have decided to donate our stake in the company to support charitable causes, with a special focus on education, healthcare, and community development," said chairman and managing director Hitesh Chimanlal Doshi.

By investing in these vital areas, the company hopes to empower individuals and inspire lasting positive change, he said, adding, "Together, we can build a more equitable and hopeful future."

Shares of Waaree Energies ended nearly flat at ₹3,440.80 apiece on the BSE on Monday.