The much-awaited Waaree Energies Limited IPO (Waaree Energies IPO) is set to open for subscription on October 21, 2024, and will close on October 23, 2024. This IPO is a book-built issue amounting to Rs 4,321.44 crores, which is a combination of both fresh issues and offer for sale. In this article, we’ll walk through all the important details you need to know about this IPO, from the issue size and allotment dates to the price band and lot size. Whether you are a retail investor or an HNI, this comprehensive guide will help you make informed decisions.
What is Waaree Energies Limited?
Waaree Energies Limited, established in December 1990, is a leading Indian manufacturer of solar PV modules. The company boasts an impressive 12 GW aggregate installed capacity and is known for its wide range of solar energy products. These include:
Multicrystalline modules
Monocrystalline modules
TopCon modules, including flexible bifacial modules (Mono PERC), and building-integrated photovoltaic (BIPV) modules.
Waaree Energies operates four state-of-the-art manufacturing facilities across India, covering a total of 136.30 acres. The facilities, located in Surat, Tumb, Nandigram, and Chikhli in Gujarat, adhere to international certifications such as ISO 45001:2018, ISO 14001:2015, and ISO 9001:2015.
Let’s break down the key details of the Waaree Energies Limited IPO:
Detail
Information
IPO Date
October 21, 2024, to October 23, 2024
Listing Date
October 28, 2024 (Tentative)
Issue Size
Rs 4,321.44 crores
Fresh Issue
Rs 3,600 crores (2.4 crore shares)
Offer for Sale (OFS)
Rs 721.44 crores (0.48 crore shares)
Price Band
Rs 1427 to Rs 1503 per share
Lot Size (Retail)
9 shares
Face Value
Rs 10 per share
Listing At
BSE, NSE
Minimum Investment (Retail)
Rs 13,527 (9 shares)
Minimum Investment (sNII)
Rs 202,905 (135 shares)
Minimum Investment (bNII)
Rs 1,000,998 (666 shares)
Waaree Energies IPO Reservation
The total issue size is 28,752,094 shares, with the shares divided among different categories as follows:
Investor Category
Shares Offered
% of Total Issue
Anchor Investors
8,495,887
29.55%
QIB
5,538,663
19.26%
NII (HNI)
4,373,206
15.21%
Retail Investors (RII)
9,911,869
34.47%
Employees
432,468
1.5%
Timeline of Waaree Energies IPO
It’s important to keep track of key dates if you’re planning to invest in this IPO. Here’s the tentative schedule:
Event
Date
IPO Open Date
October 21, 2024 (Monday)
IPO Close Date
October 23, 2024 (Wednesday)
Basis of Allotment Finalization
October 24, 2024 (Thursday)
Initiation of Refunds
October 25, 2024 (Friday)
Credit of Shares to Demat
October 25, 2024 (Friday)
Listing Date
October 28, 2024 (Monday)
UPI Mandate Cut-Off Time
5 PM, October 23, 2024
Waaree Energies IPO Pricing and Lot Size
The price band for the Waaree Energies IPO is set between Rs 1427 to Rs 1503 per share, with a minimum lot size of 9 shares for retail investors. The minimum investment required by different investor categories is outlined below:
Investor Category
Minimum Shares
Minimum Investment (INR)
Retail Investors
9 shares
Rs 13,527
sNII (Small HNI)
135 shares
Rs 202,905
bNII (Big HNI)
666 shares
Rs 1,000,998
Waaree Energies IPO: Financial Overview
Waaree Energies Limited has shown impressive growth over the past few years. Between the fiscal years ending March 31, 2023, and March 31, 2024, the company’s revenue grew by 70%, and its profit after tax (PAT) increased by 155%. Below is a summary of the company’s key financials:
Period
Assets (INR Cr.)
Revenue (INR Cr.)
PAT (INR Cr.)
30 Jun 2024
11,989.48
3,496.41
401.13
31 Mar 2024
11,313.73
11,632.76
1,274.38
31 Mar 2023
7,419.92
6,860.36
500.28
31 Mar 2022
2,237.4
2,945.85
79.65
Objects of the Waaree Energies IPO
The net proceeds from the Waaree Energies IPO will be used for the following purposes:
Part-finance the establishment of a 6GW Ingot Wafer, Solar Cell, and Solar PV Module manufacturing facility in Odisha, India.
For general corporate purposes.
Competitive Strengths of Waaree Energies
Waaree Energies Limited stands out in the market due to its:
Largest Solar PV Module Manufacturer in India.
Diversified customer base both within India and internationally.
Advanced manufacturing facilities with global certifications.
Extensive retail network across India.
Consistent track record of financial growth.
Experienced management team.
FAQs About Waaree Energies Limited IPO (Waaree Energies IPO) Detail
1. What is the price band for the Waaree Energies IPO?
The price band for the Waaree Energies IPO is set between Rs 1427 to Rs 1503 per share.
2. What is the minimum investment required for the Waaree Energies IPO?
For retail investors, the minimum investment required is Rs 13,527 for 9 shares. For sNII, it’s Rs 202,905, and for bNII, it’s Rs 1,000,998.
3. When will the shares of Waaree Energies IPO be credited to my Demat account?
The shares will be credited to investors’ Demat accounts on October 25, 2024.
4. What are the key dates for the Waaree Energies IPO?
The IPO opens on October 21, 2024, closes on October 23, 2024, and the tentative listing date is October 28, 2024.
5. What is the main purpose of the Waaree Energies IPO?
The proceeds will be used to part-finance the setup of a 6GW manufacturing facility in Odisha, India, and for general corporate purposes.
In conclusion, the Waaree Energies Limited IPO (Waaree Energies IPO) is a significant opportunity, especially for those looking to invest in the renewable energy sector. With its strong financial performance, competitive strengths, and extensive market presence, Waaree Energies is well-positioned for growth. Make sure to stay updated on the timeline and key dates to maximize your investment potential!
