Waaree Energies IPO Details: (Solar Energy) Open Date, GMP, Allotment

Waaree Energies IPO subscription opens from Monday, October 21, 2024, and closes on Wednesday, October 23, 2024. It is a book-built issue of Rs 4,321.44 crore. This upcomingIPO is a combination of fresh issue and offer-for-sale. The fresh issue is of 3600 crore and OFS is of Rs 721.44 crore. 

Waaree Energies IPO price band is decided at Rs 1,427 to Rs 1,503. The minimum lot size set for the retail category is 9 shares. The minimum investment for the retail category is Rs 13,527 approx, for small institutional investors it is Rs 2,02,905 and for Big non-institutional investors it is Rs 10,00,998. 

Waaree Energies IPO allotment is expected to be finalised on Thursday, October 24, 2024. The listing will be on the BSE, NSE platform on Monday, October 28, 2024. Currently, Waaree Energies IPO GMP is Rs 1,330. You can check the latest GMP price by searching online. 

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Waaree Energies IPO: Open Date, Listing Date, Lot Size, Price Band

Waaree Energies IPO open date is on 21 October and closes on 23 October 2024. The listing date is decided on October 28, 2024. The face value is kept at Rs 10 per share. The price band and lot size is 7 equity shares. 

Waaree Energies Limited: About the Company

Waaree Energies Limited was incorporated in 1990, the company is a manufacturer of Solar PV modules with an aggregate installed capacity of 12 GW. The product portfolio of solar energy products consists of the following PV modules. – Multicrystalline modules and Monocrystalline modules; and TopCon modules include flexible bifacial modules.

Waaree Energies operates four manufacturing facilities in India, covering a total area of 136.30 acres. These facilities are located in Surat, Tumb, Nandigram, and Chikhli in Gujarat, India. The competitive strength of Waaree Energies IPO is Largest Solar PV Module Manufacturer in India, The diversified base of Indian and global customers with a large order book, Advanced manufacturing facility with global accreditations. 

Waaree Energies IPO Objectives

Waaree Energies IPO is to raise funds from the general public. The net funds raised from this IPO will be utilised for financing the cost of establishing 6GW of Ingot Wafer and solar PV manufacturing facility. The remaining money will be used for acquisitions and fulfilling the general corporate purposes. 

Waaree Energies IPO: Key Dates, Allotment, Listing Date

Waaree Energies IPO is key dates are given in the table below. This IPO will open in the last week of October. Waaree Energies IPO allotment date is October 24, 2024. 

Waaree Energies IPO Subscription Details, IPO Reservation

Waaree Energies IPO subscription details will be available after the IPO opens on 21 october 2024. In the retail investor category 35% of the net offer is reserved and the remaining 65% of the net offer is reserved for the investors category like Qualified Institutional Buyers (50%) and Non-institutional investors (15%). 

Waaree Energies IPO Allotment Details

Waaree Energies IPO allotment details are expected to be finalised on Thursday, October 24, 2024. The listing will be on the BSE, NSE platform on Monday, October 28, 2024. The registrar of this IPO is Link Intime India Private Limited. Investors can check their allotment status after the subscription of the IPO ends.

Waaree Energies IPO GMP

Waaree Energies IPO GMP is Rs 1,330. The current GMP is up by 90% from the issue price, it means investors are taking interest and excited for this IPO. If the subscription got oversubscribed then Waaree Energies IPO GMP might rise in the coming days. 

Waaree Energies IPO Lot Size Details

Waaree Energies IPO minimum lot size set for the retail category is 9 shares. The minimum investment for the retail category is Rs 13,527 approx, for small institutional investors it is around Rs 2,02,905 and for Big non-institutional investors it is Rs 10,00,998.  

Waaree Energies IPO Promoter Holdings

Waaree Energies IPO promoters are Hitesh Chimanlal Doshi, Viren Chimanlal Doshi, Pankaj Chimanlal Doshi and Waaree Sustainable Finance Private Limited. The promoters' shareholdings before the IPO were 71.80%; however, after the IPO, shareholdings will decline to 64.30%. 

Waaree Energies Limited Company Financials (Amt in Crore)

Waaree Energies Limited posted revenue of Rs 3,496.41 crore and net profit of Rs 401.13 crore for the period ending on 30 Jun 2024. The company’s revenue increased by 70% and PAT increased by 155% between the FY ending on 31 March 2024 and 31 March 2023. 

Waaree Energies IPO Registrar

Waaree Energies IPO registrar is Link Intime India Private Limited. On the date of allotment, Investors can click on Link Intime India and select the name of the company and enter PAN number or application ID to know their allotment status.

Waaree Energies IPO Lead Managers

Waaree Energies IPO lead managers are Axis Capital Limited, IIFL Securities Limited, Jefferies India Private Limited, Nomura Financial Advisory And Securities India Private Limited, SBI Capital Markets Limited, Intensive Fiscal Services Private Limited and ITI Capital Limited.

How to apply to Waaree Energies IPO

Interested investors can apply to the Waaree Energies IPO directly from the Bigul trading app and you can also apply by clicking here. Investors can also check the details of other upcoming IPO in Bigul. 

Waaree Energies IPO Review

Waaree Energies IPO is likely to get a positive response from the general public. The company is involved in the solar energy sector. So, investors interested in the renewable energy sector can apply to this IPO. This upcoming IPO is expected to witness an oversubscription in the last bidding date. Moreover, if the IPO gets a positive response then Waaree Energies IPO GMP will also rise.

Waaree Energies IPO FAQ

1. What are the details of the Waaree Energies IPO?

Waaree Energies IPO is a book-built issue of Rs 4,321.44 crore. This upcoming issue is a combination of fresh issue and offer-for-sale. The fresh issue is of 3600 crore and OFS is of Rs 721.44 crore.

 2. When will the Waaree Energies IPO open and close?

Waaree Energies IPO subscription opens from Monday, October 21, 2024, and closes on Wednesday, October 23, 2024. Waaree Energies IPO allotment is expected to be finalised on Thursday, October 24, 2024.

 3. What is Waaree Energies IPO GMP?

Waaree Energies IPO GMP is Rs 1,330. The current GMP is up by 90% from the issue price, it means investors are taking interest and excited for this IPO. If the subscription got oversubscribed then Waaree Energies IPO GMP might rise in the coming days.

 4. What are the details of Waaree Energies IPO reservation?

Waaree Energies IPO subscription details will be available after the IPO opens on 21 october 2024. In the retail investor category, 35% of the net offer is reserved, and the remaining 65% of the net offer is reserved for the investors category like Qualified Institutional Buyers (50%) and Non-institutional investors (15%).

 5. Write the details of the IPO Allotment?

Waaree Energies IPO allotment details are expected to be finalised on Thursday, October 24, 2024. The listing will be on the BSE, NSE platform on Monday, October 28, 2024. The registrar of this IPO is Link Intime India Private Limited. Investors can check their allotment status after the subscription of the IPO ends.

 6. Who is the registrar and lead managers for Waaree Energies IPO?

Waaree Energies IPO Registrar is Link Intime India Private Limited. The book-running lead manager for this IPO is Axis Capital Limited, Iifl Securities Limited, Jefferies India Private Limited, Nomura Financial Advisory And Securities Private Limited, SBI Capital Markets Limited, Intensive Fiscal Services Private Limited and Iti Capital Limited. Investors can check the allotment status in the Link Intime India Private Limited official website. 

Also Read:

• What is IPO?
• What is IPO GMP?
• Difference between IPO and FPO For Beginners