Waaree Energies IPO Details
The Waaree Energies IPO is a book build issue with a total issue size of ₹4321.44 cr, comprising of fresh issue of 23952095 equity shares., and a offer for sale of 4800000 equity shares. Waaree Energies IPO opened for subscription on Oct 21, 2024 and closed on Oct 23, 2024. Waaree Energies IPO is set price band at ₹1427 to ₹1503 per share, with a lot size of 9 shares. Minimum investment for Retail investors was ₹13,527.00 (at the upper price band) to apply for one lot.
The basis of allotment got finalized on Oct 24, 2024, and listed on both the NSE and BSE on Oct 28, 2024.
MUFG Intime India Private Limited has been appointed as the registrar. IIFL Capital Services Limited, Axis Capital Limited, Jefferies India Private Limited, Intensive Fiscal Services Private Limited, SBI Capital Markets Limited, Nomura Financial Advisory And Securities (India) Pvt Ltd and Iti Capital Ltd are the Book Running Lead Manager for the issue.
Before investing in the Waaree Energies IPO, investors should review the company's financial performance, business objectives, and risk factors mentioned in the offer documents and apply before the subscription window closes.
- Price Band
- ₹ 1427 – 1503
- Lot Size
- 9
- Issue Size
- ₹4321.44 Cr
- Minimum Investment
- ₹13527 (9 Shares)
- Listing Date
- 28 October 2024
Current GMP
₹1295 (+86.16%)
*Info is indicative. Not an Investment Advice. Grey market trading is unregulated.
About Waaree Energies Limited
Waaree Energies Limited, the flagship company of the Waaree Group, holds the title of India’s largest manufacturer of solar PV modules, with a production capacity of 12 GW as of June 30, 2023. Its manufacturing plants are strategically located in Surat, Tumb, Nandigram, and Chikhli in Gujarat.
The company offers a diverse range of solar energy products, including three types of PV modules:
(i) multicrystalline,
(ii) monocrystalline, and
(iii) TopCon modules.
Waaree Energies Limited also provides flexible options such as bifacial modules (Mono PERC) available in framed and unframed designs, as well as building-integrated photovoltaic (BIPV) modules.
As of November 30, 2023, Waaree Energies has a robust order backlog of 20.16 GW for solar PV modules, which includes domestic, export, and franchisee orders. Additionally, its subsidiary, Waaree Solar Americas Inc., has received orders totaling 3.75 GW in the United States.
The company has cultivated strong relationships with a prestigious client base. Key customers in the domestic utility and enterprise sectors include ReNew Power, ACME, Hero Solar, Mahindra Susten, Essel Infra, AMP Energy, Sukhbir Agro Energy, Solarworld Energy, and Rays Power Infra. By June 30, 2023, Waaree’s retail network had expanded to 284 franchisees across India, with customers also located in the United States, Canada, Italy, Hong Kong, Turkey, and Vietnam.
Waaree Energies IPO Promoters
The company's promoters are
- Hitesh Chimanlal Doshi
- Viren Chimanlal Doshi
- Pankaj Chimanlal Doshi
- Waaree Sustainable Finance Private Limited.
Promoters Holding
Holding Pre Issue
71.80%
Holding Post Issue
64.30%
Waaree Energies IPO Objective
Company proposes to utilise the Net Proceeds towards funding the following objects:
- Part finance the cost of establishing the 6GW of Ingot Wafer, Solar Cell and Solar PV Module manufacturing facility in Odisha, India.
- General corporate purposes.
Address / Contact Info
Waaree Energies Limited
602, 6th Floor, Western Edge I,
Western Express Highway,
Borivali (East), Mumbai -400066
Phone: +91 22 66444444
Email: investorrelations@waaree.com
Website: https://waaree.com
IPO Snapshot
Book Running Lead Managers
- IIFL Capital Services Limited
- Axis Capital Limited
- Jefferies India Private Limited
- Intensive Fiscal Services Private Limited
- SBI Capital Markets Limited
- Nomura Financial Advisory And Securities (India) Pvt Ltd
- Iti Capital Ltd
Disclaimer: This data is for informational purposes only and does not constitute investment advice. Figures shown are illustrative sample data.
Frequently Asked Questions
Everything you need to know before applying to an IPO.
Waaree Energies IPO is a Book-building IPO with a total issue size of ₹4321.44 crore. The Waaree Energies IPO price band is ₹1427 to 1503 per share. The Waaree Energies IPO subscription opens on Mon, Oct 21, 2024, and closes on Wed, Oct 23, 2024. The Waaree Energies IPO will be listed on the BSE,NSE. MUFG Intime India Private Limited is the registrar for the Waaree Energies IPO.
The Waaree Energies IPO opens on Mon, Oct 21, 2024 and closes on Wed, Oct 23, 2024
Waaree Energies IPO Price Band is ₹1427 to 1503 per share.
Waaree Energies IPO lot size is 9 shares, Retail investors need a minimum investment of ₹13527 based on the upper price band
The minimum investment for Waaree Energies IPO is ₹13527, based on one lot of 9 shares at the upper price band of ₹1503 per share.
Investors can apply for the Waaree Energies IPO through the ASBA (Application Supported by Blocked Amount) facility offered by their bank or through UPI using a SEBI-registered broker or trading app. Select the desired lot size, enter your bid within the price band, and submit the application before Wed, Oct 23, 2024. The application amount remains blocked until the Waaree Energies IPO allotment is finalized.
Waaree Energies IPO issue size is ₹4321.44 crores.
Waaree Energies IPO allotment date is Wed, Jul 1, 2026.
The registrar for Waaree Energies IPO is MUFG Intime India Private Limited. Investors can go to MUFG Intime India Private Limited website to check Waaree Energies IPO allotment status, refund processing, and other IPO-related information.
The Waaree Energies IPO GMP (Grey Market Premium) is ₹1295 as of Mon, Oct 28, 2024. Based on the upper price band of ₹1503 per share, the estimated Waaree Energies IPO listing price is ₹2798, indicating a potential listing gain of approximately 0% over the issue price.