Waaree Energies IPO: The initial public offering (IPO) of Waaree Energies is in high demand in the grey market as the issue opens Monday, October 21 for public subscription. It will close on Wednesday, October 23.
Axis Capital, IIFL Securities, Jefferies India, Nomura Financial Advisory and Securities (India), SBI Capital Markets, Intensive Fiscal Services and ITI Capital are the book running lead managers to the issue. Link Intime India Private Ltd is the registrar for the issue.
Waaree Energies IPO GMP Today Price
As per several websites that track grey market activities, the Waaree Energies IPO is commanding a strong premium in the range of Rs 1275-1,350 per share. The grey market premium (GMP) of the IPO indicates a listing gain in the range of 84-90 per cent over the upper band of the issue price.
However, it is important to note that grey market premiums are just an indicator as to how the company’s shares are stacked up in the unlisted market and are subject to change rapidly.
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Waaree Energies IPO Price Band, Lot Size, Minimum Investment
The price band for Waaree Energies IPO is set at Rs 1,427-1,503 per share. The minimum lot size for an application is 9 shares and the minimum amount of investment required by retail investors is Rs 13,527. The minimum lot size investment for sNII is 15 lots (135 shares), amounting to Rs 2,02,905, and for bNII, it is 74 lots (666 shares), amounting to Rs 10,00,998.
Waaree Energies IPO Allotment, Listing Date
The shares of Waaree Energies are expected to be finalised on Thursday, October 24, 2024.
The tentative listing date of the IPO is Monday, October 28, 2024. The shares will debut on both the bourses – NSE and BSE.
Waaree Energies IPO Objective
The company proposes to use the net proceeds from the IPO for establishing a 6 gigawatt (GW) manufacturing facility for ingots, wafers, solar cells, and PV modules in Odisha, as well as supporting general corporate purposes.
Waaree Energies: About Company
Waaree Energies is the largest manufacturer of solar PV modules in India with the largest aggregate installed capacity of 12 GW, as of June 2024.
Waaree Energies Financials
For FY24, Waaree Energies’s revenue from operations jumped 69% year-on-year to Rs 11,398 crore, while profit after tax more than doubled to Rs 1,274 crore.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money related decisions.)
