The Waaree Energies IPO, amounting to ₹4,321.44 crores, will be issued as a book-built offering. It consists of a fresh issue of 2.4 crore shares, totaling ₹3,600.00 crores, along with an offer for sale of 0.48 crore shares, aggregating ₹721.44 crores.
The subscription period for the Waaree Energies IPO is scheduled from October 21, 2024, to October 23, 2024. The allotment finalization is expected on October 24, 2024, with a tentative listing date set for October 28, 2024, on both the BSE and NSE.
The price band for the IPO has been set between ₹1,427 and ₹1,503 per share, with a minimum application size of 9 shares. The minimum investment required by retail investors is ₹13,527. For sNII investors, the minimum investment will be 15 lots (135 shares), amounting to ₹202,905, while for bNII investors, it will be 74 lots (666 shares), totaling ₹1,000,998.
Read Waaree Energies IPO RHP for detailed information.
| IPO Date | October 21, 2024 to October 23, 2024 |
| Listing Date | October 28, 2024 |
| Face Value | ₹ 10 / Share |
| Price Band | ₹ 1427 to ₹ 1503 / Share |
| Lot Size | 9 Shares |
| Total Issue Size | ₹4,321.44 Cr |
| Fresh Issue | ₹3,600.00 Cr |
| Offer for Sale | ₹721.44 Cr |
| Employee Discount | |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 263,331,104 |
| Share holding post issue | 287,283,199 |
| Market Maker portion |
Waaree Energies Limited IPO opens on October 21, 2024, and closes on October 23, 2024.
| IPO Open Date | October 21, 2024 |
| IPO Close Date | October 23, 2024 |
| Basis of Allotment | October 24, 2024 |
| Initiation of Refunds | October 25, 2024 |
| Credit of Shares to Demat | October 25, 2024 |
| Listing Date | October 28, 2024 |
| Cut-off time for UPI mandate confirmation | October 23, 2024 |
Bids for the IPO can be placed for a minimum of 9 shares and in multiples of that amount. The table below shows the minimum and maximum investment requirements for retail investors and HNIs, specifying the number of shares and the corresponding investment amounts.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | |||
| Retail (Max) | |||
| S-HNI (Min) | |||
| S-HNI (Max) | |||
| B-HNI (Min) | |||
| HNI (Min) |
| Share Holding Pre Issue | 71.80% |
| Share Holding Post Issue | 64.30% |
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | |
|
| Market Maker Shares Offered | |
|
| Other Shares Offered | |
|
| QIB Shares Offered | Not more than 50.00% of the Net Issue |
|
| NII (HNI) Shares Offered | Not less than 15.00% of the Net Issue |
|
| bNII > ₹10L | |
|
| sNII < ₹10L | |
|
| Retail Shares Offered | Not less than 35.00% of the Net Issue |
|
| Employee Shares Offered | |
|
| Total Shares Offered | |
| Bid Date | |
| Shares Offered | |
| Anchor Portion Size (In Cr.) | |
| Anchor lock-in period end date for 50% shares (30 Days) | |
| Anchor lock-in period end date for remaining shares (90 Days) |
Waaree Energies Limited, incorporated in December 1990, operates as an Indian manufacturer of solar PV modules, with an aggregate installed capacity of 12 GW.
The product portfolio of solar energy products includes the following types of PV modules:
| KPI | Values |
|---|---|
| ROE | 8.79% |
| ROCE | 9.45% |
| Debt/Equity | 0.06 |
| RoNW | 8.81% |
| P/BV | 8.84 |
| PAT Margin (%) | 11.47 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 48.69 | 56.16 |
| P/E (x) | 30.87 | 26.76 |
The net proceeds from the fresh issue are proposed to be utilized as follows:
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/ |
Link Intime India Private Ltd Phone: +91-22-4918 6270 Email: waaree.ipo@linkintime.co.in Website: https://linkintime.co.in/initial_offer/public-issues.html |
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