Indian Accounting Research Analyst, Trudence Capital Advisors

Nitin Mangal

Indian Accounting Research Analyst

Trudence Capital Advisors

Trudence Capital Advisors Private Limited is a SEBI-registered Research Analyst, holding SEBI registration number INH000015747. Our firm is dedicated to providing independent and unbiased research on Indian mid to large-cap companies. Trudence Capital is known for its counter-consensus views, with a focus on forensic research and on-ground primary investigations. Our research approach is thorough, involving detailed analysis of accounting practices and governance, alongside extensive channel checks.

Independent & Unbiased Research

Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/waaree-energies-limited-6098abe5-9b91-4859-8170-b98fda2cf7ab" target="_blank" data-smartkarma-citation="entities:44031:1" rel="noopener">Waaree Energies (0656504D IN)</a> awaited IPO is about to open on October 21. The IPO comprises of fresh issue worth INR 36 bn and OFS worth INR 7.2 bn. </li>
<li>This insight is an update to the previous note on the company <a href="https://www.smartkarma.com/insights/waaree-energies-ipo-forensic-analysis" target="_blank" data-smartkarma-citation="insights:127677" rel="noopener">Waaree Energies IPO- Forensic Analysis</a> , on the forensics front. </li>
<li>The company still faces some of the forensic setbacks we found in the DRHP. These include capital purchases from related parties, heated receivables, bizarre lease accounting, unpaid dues, etc.</li>
</ul>



Waaree Energies (0656504D IN) awaited IPO is about to open on October 21. The IPO comprises of fresh issue worth INR 36 bn and OFS worth INR 7.2 bn. 
This insight is an update to the previous note on the company Waaree Energies IPO- Forensic Analysis , on the forensics front. 
The company still faces some of the forensic setbacks we found in the DRHP. These include capital purchases from related parties, heated receivables, bizarre lease accounting, unpaid dues, etc.


Waaree Energies IPO Update- Forensic Analysis

India

Waaree Energies Limited manufactures solar equipment. The Company provides PV modules, inverters, KW rooftop solutions, utility grids, water pumps, and portable kits. Waaree Energies serves customers worldwide.

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Waaree Energies IPO Update- Forensic Analysis

​Waaree Energies IPO comes in with fresh issue worth INR 36 bn and OFS worth INR 7.2 bn. Forensic analysis reveals ongoing concerns including...

Nitin Mangal

Waaree Energies IPO comes in with fresh issue worth INR 36 bn and OFS worth INR 7.2 bn. Forensic analysis reveals ongoing concerns including...