New Delhi, July 16 -- Ace investor Madhuri Madhusudan Kela, wife of prominent investor Madhusudhan Kela has pared down her holding in solar module maker Waaree Energies to below 1 percent, signaling a quiet exit after backing the company even before its IPO. While her name featured among key shareholders with a 2.07 percent stake at the end of March 2025, she is now absent from the latest shareholding disclosures, indicating her stake has fallen below the reporting threshold.

Kela's exit comes at a time when the multibagger stock Waaree Energies is actively diversifying its business model to reduce earnings concentration. The company is transitioning into a fully integrated New Energy player, making strides into green hydrogen, electroly...