Waaree Energies IPO Details: The Waaree Energies IPO will open on October 21, 2024, and close on October 23, 2024. This is a Book Built Issue through which the company aims to raise approximately ₹4,321 crores, comprising a fresh issue of ₹3,600 crores and an offer for sale (OFS) of up to 4.8 million equity shares with a face value of ₹10 each.
The IPO is priced within a band of ₹1,427 to ₹1,503 per share. The quota allocation stands at 35% for retail investors, 50% for Qualified Institutional Buyers (QIBs), and 15% for Non-Institutional Investors (HNIs). The IPO shares are expected to be listed on BSE and NSE on October 28, 2024, with the allotment date set for October 24, 2024.
Financial Performance:
- Revenue (2024): ₹11,632.76 crores (vs. ₹6,860.36 crores in 2023)
- Profit (2024): ₹1,274.38 crores (vs. ₹500.28 crores in 2023)
Given its solid financial growth, this IPO could be attractive for both short-term and long-term investors.
Waaree Energies IPO Objectives:
The net proceeds of the Fresh Issue are proposed to be utilised in the following manner:
- Part finance the cost of establishing the 6GW of Ingot Wafer, Solar Cell and Solar PV Module manufacturing facility in Odisha, India(“Project”).
- General corporate purposes.
Waaree Energies IPO Review (Apply or Not)
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Waaree Energies IPO Date & Price Band Details:
| IPO Open Date: | October 21, 2024 |
| IPO Close Date: | October 23, 2024 |
| Face Value: | ₹10 Per Equity Share |
| IPO Price Band: | ₹1,427 to ₹1,503 Per Share |
| Issue Size: | Approx ₹4,321 Crores |
| Fresh Issue: | Approx ₹3,600 Crores |
| Offer for Sale: | Approx 4,800,000 Equity Shares |
| Issue Type: | Book Built Issue |
| IPO Listing: | BSE & NSE |
| Retail Quota: | Not more than 35% |
| QIB Quota: | Not more than 50% |
| NII Quota: | Not more than 15% |
| DRHP Draft Prospectus: | Click Here |
| RHP Draft Prospectus: | Click Here |
| Anchor Investors List: | Click Here |
Waaree Energies IPO Lot Size:
The minimum market lot for the Waaree Energies IPO is 9 shares, requiring an application amount of ₹13,527. Retail investors can apply for a maximum of 14 lots, which totals 126 shares or an investment of ₹189,378.
| Application | Lot Size | Shares | Amount |
| Retail Minimum | 1 | 9 | ₹13,527 |
| Retail Maximum | 14 | 126 | ₹189,378 |
| S-HNI Minimum | 15 | 135 | ₹202,905 |
| B-HNI Minimum | 74 | 666 | ₹1,000,998 |
Waaree Energies IPO Timeline:
The Waaree Energies IPO will open on October 21, 2024, and close on October 23, 2024. The allotment will be finalized on October 24, 2024, with the listing scheduled for October 28, 2024.
| IPO Open Date: | October 21, 2024 |
| IPO Close Date: | October 23, 2024 |
| Basis of Allotment: | October 24, 2024 |
| Refunds: | October 25, 2024 |
| Credit to Demat Account: | October 25, 2024 |
| IPO Listing Date: | October 28, 2024 |
Waaree Energies IPO GMP Today:
The latest GMP (Grey Market Premium) for the Waaree Energies IPO stands at ₹1,525. With a price band cap of ₹1,503 per share, the estimated listing price is ₹3,028 (cap price + today’s GMP). This suggests a potential gain of 101.46% per share at the time of listing.
Promoters of Waaree Energies IPO
The promoters of Waaree Energies Limited are:
- Hitesh Chimanlal Doshi
- Virenchimanlal Doshi
- Pankaj Chimanlal Doshi
- Waaree Sustainable Finance Private Limited (formerly known as Mahavir Thermoequip Private Limited)
About Waaree Energies Limited
Founded in 1990, Waaree Energies Limited is India’s largest producer of solar PV modules. The company began manufacturing solar PV modules in 2007, aiming to deliver high-quality, affordable, and sustainable energy solutions that promote green energy adoption and improve quality of life.
With a market share of 24% (as of August 31, 2021) in terms of total aggregate installed capacity, Waaree Energies offers a range of solar products, including:
- Multicrystalline modules
- Monocrystalline modules
The company has also expanded its global presence, operating in several countries, including the United States, Canada, Italy, Turkey, and Vietnam.
For the financial year 2023-24, Waaree Energies reported revenue from operations of ₹1,13,976.09 million, reflecting its strong performance in the renewable energy sector.
Waaree Energies IPO Company Financial Report
The company reported revenue of ₹11,632.76 crores in 2024 against ₹6,860.36 crore in 2023. The company reported profit of ₹1,274.38 crores in 2024 against profit of ₹500.28 crores in 2023.
Amount ₹ in Crores
| Period Ended | Revenue | Expense | Profit After Tax | Assets |
| 2021 | ₹1,983.01 | ₹1,920.52 | ₹45.61 | ₹1,293.16 |
| 2022 | ₹2,945.85 | ₹2,827.48 | ₹79.65 | ₹2,237.40 |
| 2023 | ₹6,860.36 | ₹6,162.63 | ₹500.28 | ₹7,419.92 |
| 2024 | ₹11,632.76 | ₹10,239.90 | ₹1,274.38 | ₹11,313.73 |
| June 2024 | ₹3,496.41 | ₹2,965.88 | ₹401.13 | ₹11,989.48 |
Waaree Energies IPO Valuation – FY2024
Check Waaree Energies IPO valuations detail like Earning Per Share (EPS), Price/Earning P/E Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV) details.
| KPI | Values |
| ROE: | 30.26% |
| ROCE: | 26.29% |
| EBITDA Margin: | 15.56% |
| PAT Margin: | 10.96% |
| Debt to equity ratio: | 0.08 |
| Earning Per Share (EPS): | ₹48.05 (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | 30.36% |
| Net Asset Value (NAV): | ₹154.96 |
Peer Group Comparison
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
| Websol Energy System Limited | 6.93 | 151.13 | 37.46 | 14.63 | 3,171.31 Cr. |
Waaree Energies IPO Registrar
Link Intime India Private Limited
C-101, 247 Park,
LBS Marg, Surya Nagar, Gandhi Nagar
Vikhroli (West) Mumbai -400 083
Maharashtra, India
Phone: +91 81081 14949
E-mail: waaree.ipo@linkintime.co.in
Website:https://www.linkintime.co.in/Initial_Offer/public-issues.html
IPO Lead Managers aka Merchant Bankers
- 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
- ITI Capital Limited
Company Address
Waaree Energies IPO Limited
602, 6thFloor, Western Edge –I,
Western Express Highway, Borivali (East),
Mumbai -400 066, Maharashtra, India
Phone: +91 22 6644 4444
Email: investorrelations@waaree.com
Website: www.waaree.com
Waaree Energies IPO FAQs
1. What is the Waaree Energies IPO?
The Waaree Energies IPO is a mainboard IPO through which the company aims to raise ₹4,321 crores. The issue price is set between ₹1,427 to ₹1,503 per share, and the shares will be listed on both BSE and NSE.
2. When will the Waaree Energies IPO open for subscription?
The IPO will open on October 21, 2024, and close on October 23, 2024, for QIB, NII, and retail investors.
3. What is the investors’ portion for the Waaree Energies IPO?
- QIB (Qualified Institutional Buyers): 50%
- NII (Non-Institutional Investors): 15%
- Retail Investors: 35%
4. How can I apply for the Waaree Energies IPO?
You can apply through ASBA (Application Supported by Blocked Amount) via your bank’s online portal or UPI through stock brokers. Offline applications can also be made by submitting the form through your stock broker.
5. What is the Waaree Energies IPO issue size?
The total issue size is ₹4,321 crores.
6. What is the Waaree Energies IPO price band?
The IPO is priced between ₹1,427 to ₹1,503 per share.
7. What is the minimum lot size for the Waaree Energies IPO?
The minimum lot size is 9 shares, which amounts to ₹13,527.
8. When will the Waaree Energies IPO allotment be finalized?
The allotment date is October 24, 2024.
9. When is the Waaree Energies IPO listing date?
The shares will be listed on BSE and NSE on October 28, 2024.
