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Waaree Energies IPO

  • Status: Closed
  • RHP:
  • ₹ 12,843 / 9 shares

    Minimum Investment

IPO Listing Details

  • Listing Date

    28 Oct 2024

  • Listing Price

    ₹2,550.00

  • Listing Change

    69.66%

  • Last Traded Price

    ₹2,780.00

IPO Details

  • Open Date

    21 Oct 2024

  • Close Date

    23 Oct 2024

  • IPO Price Range

    ₹ 1427 - ₹ 1503

  • IPO Size

    ₹ 4321.44 Cr

  • Listing Exchange

    BSE, NSE

  • Listing Date

    28 Oct 2024

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IPO Timeline

Waaree Energies IPO Subscription Status

Last Updated: 23 October 2024 6:39 PM by 5Paisa

Waaree Energies IPO is set to open on 21 October 2024 and will close on 23 October 2024. Waaree Energies is an Indian company that manufactures solar PV modules with a total installed capacity of 12 GW.

The IPO is a combination of fresh issue of 2.4 Cr shares aggregating to ₹3,600 Cr and offer for sale of 0.48 Cr shares aggregating to ₹721.44 Cr. The price range is set between ₹1427 to ₹1503 per share and the lot size is 9 shares. 

The allotment is scheduled to be finalized on 24 October 2024. It will go public on BSE, NSE, with a tentative listing date of 28 October 2024.

Axis Capital Limited, Iifl Securities Ltd, Jefferies India Private Limited, Nomura Financial Advisory And Securities (India) Pvt Ltd, SBI Capital Markets Limited, Intensive Fiscal Services Private Limited and Iti Capital Ltd are the book running lead managers, while Link Intime India Private Ltd is the registrar. 

Waaree Energies IPO Size

Types Size
Total IPO Size ₹4,321.44 Cr
Offer For Sale ₹721.44 Cr
Fresh Issue ₹3,600 Cr

 

 

Waaree Energies IPO Lot Size

Application Lots Shares Amount
Retail (Min) 1 9 ₹13,527
Retail (Max) 14 126 ₹189,378
S-HNI (Min) 15 135 ₹202,905
S-HNI (Max) 73 657 ₹987,471
B-HNI (Min) 74 666 ₹1,000,998

Waaree Energies IPO Reservation

Investors Category Subscription (times) Shares Offered Shares bid for Total Amount (Cr.)
QIB 215.03 55,38,663 1,21,79,37,402 1,83,055.99
NII (HNI) 65.25 43,73,206 27,71,72,883 41,659.08
Retail 11.27 99,11,869 11,16,95,301 16,787.80
Employees 5.45 4,32,468 23,56,155 354.13
Total 79.44 2,02,56,207 1,60,91,61,741 2,41,857.01

 

Waaree Energies IPO Anchor Allocation

Anchor Bid Date 18 October, 2024
Shares Offered 8,495,887
Anchor portion Size (In ₹ Cr.) 1,276.93
Anchor lock-in period end date for 50% shares (30 Days) 23 November, 2024
Anchor lock-in period end date for remaining shares (90 Days) 22 January, 2025

 

1. Partly finance the cost of setting up a 6GW manufacturing facility for Ingot Wafer, Solar Cell and Solar PV Modules in Odisha, India.  

2.  Allocate funds for general corporate purposes.

Waaree Energies incorporated in December 1990, is an Indian manufacturer of solar PV modules with a total installed capacity of 12 GW. The company's product portfolio includes multicrystalline, monocrystalline and TopCon modules such as flexible bifacial (Mono PERC) and building-integrated photovoltaic (BIPV) modules. 

As of 30 June 2023, Waaree operates four manufacturing facilities across 136.30 acres in Gujarat, located in Surat, Tumb, Nandigram and Chikhli. The Tumb facility holds ISO 45001:2018 and ISO 14001:2015 certifications, while the Chikhli facility is certified with ISO 45001:2018, ISO 9001:2015, and ISO 14001:2015. The company complies with safety standards for its PV modules. 

Peers

Websol Energy System Ltd.
Premier Energies Limited
 

Profit and Loss

Balance Sheet

Particulars (in Rs. Crores) FY24 FY23 FY22
Revenue 11,632.76 6,860.36 2,945.85
EBITDA 1809.58  944.13 202.53
PAT 1,274.38 500.28 79.65
Particulars (in Rs. Crores) FY24 FY23 FY22
Total Assets 11,313.73 7,419.92 2,237.4
Share Capital 262.96 243.37  197.14
Total Borrowings 317.32 273.48 313.08
Particulars (in Rs. Crores) FY24 FY23 FY22
Net Cash Generated From / (used in) operating activities 2305.02 1560.23 700.86
Net Cash Generated From / (used in) investing activities -3340.25 -2093.82 - 674.86
Net Cash Generated From / (used in) financing activities 909.18 642.48 98.52
Net Increase (Decrease) In Cash And Cash Equivalents -126.05 108.88 124.52


Strengths

1. Leading position in the industry, ensuring a competitive edge.

2. A mix of Indian and global clients with a large order book reducing dependency on any single market.

3. The company has modern facilities with official certifications which guarantee that its products are of high quality and reliable.
 

Risks

1. Heavy reliance on the solar industry, makes the company vulnerable to fluctuations in demand or policy changes.

2. Growing competition from foreign manufacturers could impact the company's market share.

3. Fluctuations in the prices of raw materials, like silicon, may impact profit margins.
 

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FAQs

Waaree Energies IPO opens from 21 October to 23 October 2024.

The size of Waaree Energies IPO is ₹4,321.44 Cr.

The price of Waaree Energies IPO is fixed at ₹1427 to ₹1503 per share. 

To apply for Waaree Energies IPO, follow the steps given below:

●    Login to your 5paisa account and select the issue in the current IPO section    
●    Enter the number of lots and the price at which you wish to apply for the Waaree Energies IPO.    
●    Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.    

You will receive a mandate notification to block funds in your UPI app.
 

The minimum lot size of Waaree EnergiesIPO is 9 shares and the investment required is ₹12843.

The share allotment date of Waaree Energies IPO is 24 October 2024

The Waaree Energies IPO will be listed on 28 October 2024.

Axis Capital Limited, Iifl Securities Ltd, Jefferies India Private Limited, Nomura Financial Advisory And Securities (India) Pvt Ltd, SBI Capital Markets Limited, Intensive Fiscal Services Private Limited and Iti Capital Ltd are the book running lead managers for Waaree Energies IPO.
 

1. Partly finance the cost of setting up a 6GW manufacturing facility for Ingot Wafer, Solar Cell and Solar PV Modules in Odisha, India.  

2. Allocate funds for general corporate purposes.