Waaree Energies IPO

Mainboard

Other Electrical Equipment

Listed On: Oct 28, 2024 at ₹ 2500.0(NSE)

₹ 13527 /9 Shares

Check Allotment

Price Summary

Last Closing

2,730.00 (81.64%)

52 Week High

3,743.00

52 Week Low

2,300.00

Last Update

21-Nov-2024 3:30 PM

Waaree Energies IPO Details

21 Oct, 2024

Open Date

23 Oct, 2024

Close Date

24 Oct, 2024

Allotment Date

28 Oct, 2024

Listing Date

Issue Price

₹1427-1503 per equity share

Face Value

₹10 Per Equity Share

Listing at Group

BSE, NSE

Registrar

Link Intime India Private Ltd

List Price

2500.0(NSE)

Listing Date

2024-10-28

Market Lot

Retail : 9 Shares (₹13,527/-)
S-HNI : 135 Shares (₹2,02,905/-)
B-HNI : 666 Shares (₹10,00,998/-)

Lead Manager

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
Iti Capital Ltd

Issue Size

Total ₹4,321.44 Cr :
#Fresh Issue : 23,952,095 shares(aggregating up to ₹3600 Cr) +
#OFS : 4,800,000 shares of ₹10(aggregating up to ₹721.44 Cr)

Retail Portion

35% (Number of Retail Applications: 11,01,319 Approx),
(Number of S-HNI Applications : 10,489 Approx),
(Number of B-HNI Applications : 20.,978 Approx)

Subscription

76.34 times

IPO Docs

DRHP RHP ANCHOR

Waaree Energies IPO Subscription Details

As on	QIB	NII bNII sNII	Retail	Total
Shares Offered / Reserved	5,538,663	4,373,206 2,957,224 1,415,982	9,911,869	20,256,207
Day 1 - 21-10-24 05:00 PM	0.08 x	8.09 7.53 x 9.21 x	3.17 x	3.32 x
Day 2 - 22-10-24 05:00 PM	1.73 x	24.36 24.83 x 23.43 x	6.38 x	8.80 x
Day 3 - 23-10-24 05:00 PM	208.63 x	62.48 68.30 x 50.85 x	10.79 x	76.34 x

Total No. of Applications: 97,34,503 (Approx)

Retail Subscription on the basis of Applications: Retail:8.01x BHNI:12.94x SHNI:47.65x times

Waaree Energies Valuations

EPS Pre IPO

₹48.69/-

EPS Post IPO

₹56.16/-

P/E Pre IPO

30.87

P/E Post IPO

26.76

RoNW

8.81%

Waaree Energies Company Financials All values are in ₹ Cr.

	31-Mar-24	31-Mar-23	31-Mar-22
Assets	11,313.73	7,419.92	2,237.4
Revenue	11,632.76	6,860.36	2,945.85
Profit After Tax	1,274.38	500.28	79.65

About The Company

Waaree Energies is one of the top players in the sustainable energy sector. The company still keeps delivering cost-effective, environment-friendly energy solutions that can make a difference in the reduction of carbon footprints globally. It stands at the forefront of producing solar PV modules in India with a befitting aggregated installed capacity of 2 GW.

Waaree Energies differs because it is the only Indian company with in-house, NABL-accredited laboratories. This means every solar module is of high quality, reliability, and efficiency.

Waaree Energies has the vision of a greener future, driving innovations in the renewable energy segment with cutting-edge solutions that contribute toward sustainable development and energy security for all.

Waaree Energies - Strength and Weakness

Strength

Largest solar PV module manufacturer in India with 12 GW capacity.

Diversified global customer base and robust order book of 16.66 GW.

Extensive pan-India retail network with 369 franchisees as of 2024.

Weakness

Reliance on key customers; top 10 customers contribute 56.77% of revenue.

High dependency on exports: 57.64% of revenue from export sales.

Ongoing U.S. manufacturing expansion, estimated cost of $70 million.

Waaree Energies - Promoter(s)

Pre Issue Share Holding: 72.32%

Post Issue Share Holding: N/A%

Company Promoter(s)

Hitesh Chimanlal Doshi
Viren Chimanlal Doshi
Pankaj Chimanlal Doshi
Waaree Sustainable Finance Private Limited

Waaree Energies IPO - Issue Objectives

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 - Anchor Investors

Waaree Energies mobilises Rs 1,277 Crore via anchor book.

Marquee investors like Morgan Stanley, Blackrock, Goldman Sachs, PGGM World Equity, Abu Dhabi Investment Authority, Eastspring Investments, BNP Paribas Funds, Carmignac Portfolio, Copthall Mauritius, Florida Retirement System, Pinebridge Global Funds, and CLSA Global Markets were part of the anchor book.

HDFC Mutual Fund, ICICI Prudential Mutual Fund, Nomura India, Aditya Birla Sun Life Trustee, Canara Robeco Mutual Fund, Franklin India, Kotak Mahindra Mutual Fund, Mirae Asset, Motilal Oswal Mutual Fund, Quant Mutual Fund, Tata Mutual Fund, Invesco India, Jupiter India Fund, Ashoka Whiteoak ICAV, Bandhan Mutual Fund, Sundaram Mutual Fund, PGIM India, and UTI Mutual Fund also invested significant amount in the company Anchor book ahead of IPO.

Multiple insurance companies including HDFC Life, ICICI Prudential Life, Max Life, SBI General, SBI Life, Aditya Birla Sun Life, Bajaj Allianz Life, Kotak Mahindra Life, Reliance Nippon Life, and Tata AIA Life also invested in the company by investing through anchor book.

Other Details

Company Contact Details

Waaree Energies

602, 6th Floor, Western Edge I, Western Express Highway, Borivali (East), Mumbai -400066

Phone: +91 22 66444444

Email: investorrelations@waaree.com

Website: https://waaree.com/

Registrar Contact Details

Link Intime India Private Ltd

Phone: +91-22-4918 6270

Email: waaree.ipo@linkintime.co.in

Website: https://linkintime.co.in/initial_offer/public-issues.html

Waaree Energies IPO - FAQs

Ans. Waaree Energies IPO is a Mainboard IPO. The issue is priced at ₹1427-1503 per equity share. The minimum order quantity is 9 Shares. The IPO opens on Oct 21, 2024, and closes on Oct 23, 2024. Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

Ans. The Waaree Energies IPO opens on Oct 21, 2024 and closes on Oct 23, 2024.

Ans. The size of Waaree Energies IPO is Total ₹4,321.44 Cr : #Fresh Issue : 23,952,095 shares(aggregating up to ₹3600 Cr) + #OFS : 4,800,000 shares of ₹10(aggregating up to ₹721.44 Cr).

Ans. The IPO price band is set between ₹1427-1503 per equity share.

Ans. To apply for Waaree Energies IPO IPO, follow the steps given below:

- Open the IPO Ji App or Website
- Find Waaree Energies IPO in the List of IPOs
- Press "Apply" Button
- Select Your Demat Account
- Select Your Shares Quantity and Submit
- Track Your IPO Status

Ans. The share allotment date of Waaree Energies IPO is Oct 24, 2024.

Ans. The Waaree Energies IPO will be listed on Oct 28, 2024.

Ans. Follow the steps to check the allotment status for Waaree Energies IPO here.