Waaree Energies Limited
IPO Details
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Company Fin.
₹1295(86.16%)
Premium (ELP)
Waaree Energies Limited's successfully transitioned to public market status with its listing on NSE, BSE on Oct 28, 2024. The IPO mobilized 2,87,52,095 Shares in cumulative capital, including 2,39,52,095 Shares for corporate expansion and ₹721.44 Cr for shareholder liquidity management.
The public offering was conducted within the price parameters of ₹1,427 to ₹1,503, with minimum investment lots of 9 shares. subscription activity between Oct 21, 2024 and Oct 23, 2024 demonstrated market reception to the company's valuation and growth narrative.
The allotment process concluded on Oct 25, 2024, finalizing share distribution to successful bidders. The listing represents a transformational event, providing the company with enhanced market visibility, regulatory compliance framework, and access to diversified investor capital.
Investors can bid starting from the minimum lot size specified for this IPO, and only in multiples of that lot size. The table below shows the minimum and maximum investment for retail investors and HNIs in terms of lots, quantity, and amount.
Founded in December 1990, Waaree Energies Limited is one of India’s leading solar panel manufacturers with a production capacity of 12 GW. The company produces a wide range of solar modules, including multicrystalline, monocrystalline, and advanced TopCon modules, along with flexible bifacial panels, framed and unframed modules, and building-integrated photovoltaic solutions. Waaree has four manufacturing plants in Gujarat, located in Surat, Tumb, Nandigram, and Chikhli, covering 136.30 acres in total. The Tumb and Chikhli units are ISO-certified for safety and quality. Over the years, the company has served numerous customers across India and abroad and employed 1,019 full-time staff as of June 30, 2023.
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
- Strong Market Presence: Leading player in the solar sector with large production capacity and a healthy order book.
- Diverse Business Model: Operations span manufacturing, EPC projects, and power generation.
- Innovation-Driven: Continuous R&D investments enable high-quality and efficient solar modules.
- Policy Dependence: Business performance is highly influenced by government renewable energy policies and subsidies.
- Raw Material Volatility: Fluctuating prices of key inputs like silicon can affect profit margins.
- Intense Competition: Strong competition in the renewable sector puts pressure on pricing and technology upgrades.
- Hitesh Chimanlal Doshi
- Viren Chimanlal Doshi
- Pankaj Chimanlal Doshi
- Waaree Sustainable Finance Private Limited
Waaree Energies Limited
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