The Waaree Energies IPO is a book-built issue totaling Rs 4,321.44 crores, featuring a combination of a fresh issue of 2.4 crore shares amounting to Rs 3,600 crores and an offer for sale of 0.48 crore shares worth Rs 721.44 crores.
The IPO will open for subscription on October 21, 2024, and close on October 23, 2024. The allotment is scheduled to be finalized on October 24, 2024, with the tentative listing date set for October 28, 2024, on the BSE and NSE.
Waaree Energies operates in the renewable energy sector, specifically focusing on the manufacturing of solar photovoltaic (PV) modules. They produce a range of solar energy products, including multicrystalline modules, monocrystalline modules, and TopCon modules.
The IPO price band is between ₹1,427 and ₹1,503 per share, with a minimum lot size of 9 shares. Retail investors need a minimum investment of ₹13,527. For sNII (small NII) investors, the minimum investment is 15 lots (135 shares), amounting to ₹202,905, while bNII (large NII) investors need 74 lots (666 shares), totaling ₹1,000,998.
The book-running lead managers are 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, with Link Intime India Private Ltd serving as the registrar.
Waaree Energies IPO Details:
| Company Name | Waaree Energies Limited |
| Sector | Renewal Energy |
| IPO Type | Mainboard |
| IPO Open date | 21st Oct 2024 |
| IPO Close date | 23rd Oct 2024 |
| OFS | |
| Listing Exchanges | NSE, BSE |
| Share Holding Pre-issue | |
| DRHP Draft Prospectus | Click to check |
| RHP Draft Prospects | Click to check |
Waaree Energies IPO Lot Size:
| Application | Lot Size | Shares | Amount |
| Retail (Min) | 1 | 9 | 13,527 |
| sHNI (Min) | 15 | 135 | 2,02,905 |
| bHNI (Min) | 74 | 666 | 10,00,998 |
Waaree Energies IPO Timeline:
| IPO Open Date | 21st Oct 2024 |
| IPO Close Date | 23rd Oct 2024 |
| Basis of Allotment | 24th Oct 2024 |
| Refund Initiation Date | 25th Oct 2024 |
| Shares Credit to Demat | 25th Oct 2024 |
| Listing Date | 28th Oct 2024 |
Things to Consider before applying for an IPO
Financial Performance: Review Waaree Energies’s financials to understand its revenue, profitability, and growth prospects.
Industry Outlook: Consider the overall health of India’s Renewable Energy Industry.
Valuation: Compare the price band to similar companies in the industry to see if the IPO is priced fairly.
Management Team: Research the experience and capabilities of the management team.
Our Verdict
This IPO offers a good opportunity to invest in Waaree Energies and be a part of its growth.
FAQ
What is Grey Market Premium (GMP)?
The Grey Market Premium (GMP) represents the price at which an Initial Public Offering (IPO) is traded in the unregulated grey market before its official listing. It serves as an indicator of how the IPO might perform on the listing day. Seeing the latest GMP, investors can estimate the listing performance of the IPO.
