Waaree Energies IPO: Date, GMP, Details—Should you apply?

The subscription period for Waaree Energies’ initial public offering (IPO) begins on October 21, 2024, and ends on October 23, 2024. On Thursday, October 24, 2024, the allocation for the Waaree Energies IPO is anticipated to be finalised. The proposed listing date for Waaree Energies’ initial public offering (IPO) is set for Monday, October 28, 2024, on the BSE and NSE.

Waaree Energies IPO details

Waaree IPO Date	The date range is from October 21, 2024, to October 23, 2024.
Listing Date	October 28, 2024
Face Value	₹10 per share
Price Band	₹1427 to ₹1503 per share
Lot Size	9 Shares
Total Issue Size	28,752,095 shares (aggregating up to ₹4,321.44 Cr)
Fresh Issue	23,952,095 shares (aggregating up to ₹3,600.00 Cr)
Offer for Sale	4,800,000 shares of ₹10 (aggregating up to ₹721.44 Cr)
Issue Type	Book-Built Issue IPO
Listing At	BSE, NSE
Share holding pre issue	263,331,104
Share holding post issue	287,283,199

For more information, check out the Waaree Energies IPO RHP. 

Waaree IPO GMP: Waaree Energies IPO GMP over 100%

One way to get an estimate of how an IPO will perform is the following: 

Grey Market Premium, or GMP. Here the Waaree Energies GMP reflects how much the investors are willing to pay for Waaree Renewables share price in comparison to the issue price. 

Waaree Renewables share price is currently selling at a grey market premium (GMP) of 102.79%, which is ₹1,545 higher than the upper price range of ₹1,503 per share. The public subscription period for the ₹4,321.44 crore IPO is set to begin on Monday, October 21, 2024.

Waaree Energies Financials

	30 Jun 2024	31 Mar 2024	31 Mar 2023	31 Mar 2022
Assets (₹ crore)	11,989.48	11,313.73	7,419.92	2,237.4
Revenue (₹ crore)	3,496.41	11,632.76	6,860.36	2,945.85
Profit After Tax (₹ crore)	401.13	1,274.38	500.28	79.65
Reserves and surplus (₹ crore)	2,464.69	3,825	585.96	230.43
Total Borrowing (₹ crore)	261.24	317.32	273.48	313.08

Objects of the IPO issue

The net proceeds from the Fresh Issue will be allocated primarily across two main objectives.  

The first and major portion will be directed towards partially financing the establishment of an integrated solar manufacturing facility in Odisha, India. This state-of-the-art facility will have a comprehensive production capacity of 6 GW, encompassing three key manufacturing components: ingot wafer production, solar cell manufacturing, and solar PV module assembly. 

The second objective involves general corporate purposes, which will include working capital requirements for raw material procurement and inventory management, business development initiatives for market expansion and R&D, and strategic initiatives, to name a few.

About Waaree Energies Ltd.

Founded in 1989, Waaree Energies is a manufacturer of solar PV modules. Their product portfolio includes multicrystalline modules, monocrystalline modules, and TopCon modules.  

Some of the competitive strengths of Waaree Energies are that it is the largest solar PV manufacturer in India; they have both a local and international client base; an advanced facility for manufacturing; a retail network across India; expert management; and an impressive track record.

Interested in the Waaree Energies IPO? Click here to apply.

Dhanush provides an efficient way to apply and offers expert analysis, which could be beneficial for those looking to invest in this new stock offering. Remember to carefully evaluate the opportunity and consider how it aligns with your personal financial objectives before committing to any investment.

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