Waaree Energies Ltd.
Waaree Energies IPO is one of leading players in the renewable sector with the focus on fabricating and supplying solar photovoltaic (PV) modules. Waaree Energies came into existence in 1989 and has managed to grow into one of the biggest manufacturers of solar PV Module in India with an installed capacity of 2 GW. The headquarters is in Mumbai with choke makers located in a number of locations in India.
Key Offerings and Innovations
Waaree Energies specializes in developing solutions that are economical in prices and are not detrimental to the surrounding. The company manufactures reliable and efficient solar PV modules that are of high quality. The company is the only Indian company with NABL accredited in place labs thus undertaking quality control in its products. Waaree also provides various solar EPC, O&M and Project development.
| Table of content |
|---|
| Waaree Energies IPO Details & Important Dates |
| Waaree Energies IPO GMP Today |
| Financial Performance |
| Why IPO? |
| Future Outlook and vision |
| Market Position |
| How To Apply Waaree Energies IPO. |
Waaree Energies IPO Financials and Important Dates
| Particulars | Details |
|---|---|
| Total Issue Size | ₹4,321.44 crore |
| Fresh Issue | ₹3,600 crore |
| Offer for Sale (OFS) | 48 lakh shares |
| Price Band | ₹1,427 – ₹1,503 per share |
| Lot Size | 9 shares per lot |
| Retail Allocation | 35% |
| Listing On | BSE, NSE |
| Event | Date |
|---|---|
| IPO Opening Date | October 21, 2024 |
| IPO Closing Date | October 23, 2024 |
| Allotment Finalization | October 24, 2024 |
| Refund Initiation | October 25, 2024 |
| Share Transfer to Demat | October 25, 2024 |
| Listing Date | October 28, 2024 |
Waaree Energies IPO – DRHP
Waaree Energies IPO GMP Today
| Date | GMP |
|---|---|
| 22 Oct 2024 | 1500 |
| 21 Oct 2024 | 1445 |
| 19 Oct 2024 | 1420 |
| 18 Oct 2024 | 1360 |
| 17 Oct 2024 | 1540 |
| 16 Oct 2024 | 1250 |
Waaree Energy IPO Subscription Status.
Financial Performance
Revenue (FY24): `11,397 (crore) increase from what was recorded in FY23: 6,750 crore
Net profit (FY24): 1274 (crore) increase from what was recorded in FY23: 500 crore
The company growths have been determined mainly by the growing for the last couple of years of the renewable energy market.
Why IPO?
The IPO proceeds will be used mostly for:
Finance the construction of solar ingots, wafers, cells, and modules production facility with a capacity of 6GW to be established in Odisha & Fulfill certain areas of the company needs.
Future Outlook and vision
Waaree Energies plans to capitalize more on the global transformation to clean energy. The new production unit is expected to increase the volume of production and enhance its market share positioned to align with the growing demand for renewable energy sources.
Waaree Energies seeks to advance the global transition from electricity of fossil fuels to clean energy and create a sustainable society. Its forthcoming 6 GW manufacturing plant in Odisha is likely to consolidate its status as one of the top solar energy suppliers in the country, making a notable contribution toward India’s ambition of enhancing solar generation capacity.
Market Position
Waaree Energies has established its foothold in solar power generation in the domestic and overseas markets. They sell their products in more than 68 countries worldwide with the US dominating the market, particularly the company’s revenues, generating 73 of the total revenue of exports in Quarter one FY24. Further, the company has also engaged in solar power plants, solar water pump systems and solar rooftop systems, seeking expansion in its company.
How To Apply Waaree Energies IPO.
Utilizing a Broker’s App or Website:
Step 1: Open the Demat account from any broker’s app or website like Zerodha, Angel Broking, etc.
Step 2: Go to the IPO menu (mostly will be in “invest” or “more” parts)
Step 3: Select WAREE ENERGIES IPO from the active IPOs available.
Step 4: Click here Apply and specify the number of shares or lots you want to apply for.
Step 5: Choose a price to bid which is in between the price bands (Rs. 1,427-Rs. 1,503).
Step 6: Verify the entered details and finalize your order. Make sure you have enough to cover the amount your linked bank account needs to be blocked so as to process the transaction.
Through UPI Way using ASBA (Application Supported by Blocked Amount):
Step 1: Access your net banking credentials or any of your broker’s application capable of UPIs.
Step 2: Click on the IPO Application tab under the Invest module.
Step 3: Pick Waaree Energies IPO, input the number of shares you want and type in your UPI ID.
Step 4: Make your application and submit it, a money request will be send through your UPI app with instructions on how to pay such as Google Pay, Phone Pe or Paytm.
Step 5: Accept the request for payment that was made and the money will be set aside in your economizer.
Waaree Energies IPO FAQs
When does the Waaree Energies IPO open and close?
- The IPO opens on October 21, 2024, & closes on October 23, 2024.
What is the price band for Waaree Energies IPO?
- The price band is set between ₹1427 and ₹1503 per equity share.
What is the size of the Waaree Energies IPO?
- The total issue size is ₹4,321.44 crore, consisting of fresh issue worth ₹3,600 crore and Offer for Sale (OFS) worth ₹721.44 crore.
What are the key dates for the IPO?
- Allotment will finalized on October 24, 2024, with listing on stock exchanges expected by October 28, 2024.
What is the minimum lot size for retail investors?
- Retail investors need to apply for a minimum of 9 shares, costing around ₹13,527 for one lot at the lower end of the price band.
What is grey market premium trading today?
- GMP trading at 1445, nearly 95% returns expecting as of now.
How can I apply for the Waaree Energies IPO?