Waaree Energies IPO (Waaree Energies Limited IPO)
Waaree Energies IPO open for bidding on 21st October 2024 and ends on 23rd October 2024.
Waaree Energies Limited is a leading solar energy solutions provider in India, established with a focus on clean and sustainable energy. Incorporated in 1990, the company has expanded its capabilities over the years, becoming a key player in manufacturing solar PV modules, with a vision to drive energy independence.
The company operates advanced manufacturing facilities and offers a diverse range of solar energy products, including PV modules, inverters, and energy storage systems. These products serve various sectors, including residential, commercial, and industrial.
Committed to innovation, Waaree Energies is focused on research and development, enabling it to deliver cutting-edge solar technology solutions. The company also emphasizes sustainability, aligning with global renewable energy goals.
For more details refer to Waaree Energies IPO RHP and Waaree Energies IPO Pulse Score
Waaree Energies IPO Details
| IPO Date | 21st October 2024 to 23rd October 2024 |
| Listing Date | 28th October 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹1427 to ₹1503 per share |
| Lot Size | 9 Shares |
| Total Issue Size | 2,95,75,271 shares (aggregating up to ₹4,321.44 Cr) |
| Fresh Issue | 2,47,75,271 shares (aggregating up to ₹3,600.00 Cr) |
| Offer for Sale | 48,00,000 shares of ₹10 (aggregating up to ₹721.44 Cr) |
| Issue Type | Book Built Issue IPO |
IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor | 84,95,887(28.7%) |
| QIB | 58,37,757(19.7%) |
| NII | 44,35,838(15%) |
| bNII | 29,57,226(10%) |
| sNII | 14,78,612(5%) |
| Retail | 1,03,50,288(35%) |
| Employees | 4,55,501(1.5%) |
| Total | 2,95,75,271(100%) |
Waaree Energies IPO Timeline
| IPO Open | 21st October 2024 |
| IPO Close | 23rd October 2024 |
| Basis Of Allotment | 24th October 2024 |
| Initiation of Refunds | 25th October 2024 |
| Credit of Shares to Demat | 25th October 2024 |
| Listing Date | 28th October 2024 |
Fundamentals
Data as of 30th June 2024
| Market Cap | ₹42,939.36 Cr | P/E Ratio- Pre IPO | 30.87 |
| RoNW* | 8.81% | P/E Ratio- Post IPO | 26.76 |
| RoCE* | 9.56% | P/B Ratio | 8.84 |
| Debt to Equity | 0.06 | PAT Margin% | 11.47% |
Note: P/E Ratio -Pre IPO is calculated based on Pre-issue Shareholding and FY Earnings of March 2024. P/E Ratio- Post IPO is calculated based on post-issue shareholding and annualized FY earnings for June 2024. RoCE and RoNW are for three months period ended June 30, 2024
Waaree Energies IPO Objectives
The company proposes to utilize the Net Proceeds towards the funding of 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 by way of an investment in the wholly owned subsidiary, Sangam Solar One Private Limited (“Project”); and
- General Corporate purposes.
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