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Waaree Energies IPO is a book built issue of Rs 4,321.44 crores. The issue is a combination of fresh issue of 2.4 crore shares aggregating to Rs 3,600.00 crores and offer for sale of 0.48 crore shares aggregating to Rs 721.44 crores.
Waaree Energies IPO opens for subscription on October 21, 2024 and closes on October 23, 2024. The allotment for the Waaree Energies IPO is expected to be finalized on Thursday, October 24, 2024. Waaree Energies IPO will list on BSE, NSE with tentative listing date fixed as Monday, October 28, 2024.
Waaree Energies IPO price band is set at ₹1427 to ₹1503 per share. The minimum lot size for an application is 9 Shares. The minimum amount of investment required by retail investors is ₹13,527. The minimum lot size investment for sNII is 15 lots (135 shares), amounting to ₹202,905, and for bNII, it is 74 lots (666 shares), amounting to ₹1,000,998.
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 and Iti Capital Ltd are the book running lead managers of the Waaree Energies IPO, while Link Intime India Private Ltd is the registrar for the issue.
Refer to Waaree Energies IPO RHP for detailed information.
| IPO Date | October 21, 2024 to October 23, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹1427 to ₹1503 per share |
| Lot Size | 9 Shares |
| Total Issue Size | 28,752,095 shares (aggregating up to ₹4,321.44 Cr) |
| Fresh Issue | 23,952,095 shares (aggregating up to ₹3,600.00 Cr) |
| Offer for Sale | 4,800,000 shares of ₹10 (aggregating up to ₹721.44 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 261,738,912 |
| Share holding post issue | 285,691,007 |
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50.00% of the Net Issue |
| Retail Shares Offered | Not less than 35.00% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15.00% of the Net Issue |
Waaree Energies IPO opens on October 21, 2024, and closes on October 23, 2024.
| IPO Open Date | Monday, October 21, 2024 |
| IPO Close Date | Wednesday, October 23, 2024 |
| Basis of Allotment | Thursday, October 24, 2024 |
| Initiation of Refunds | Friday, October 25, 2024 |
| Credit of Shares to Demat | Friday, October 25, 2024 |
| Listing Date | Monday, October 28, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on October 23, 2024 |
Investors can bid for a minimum of 9 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 9 | ₹13,527 |
| Retail (Max) | 14 | 126 | ₹189,378 |
| S-HNI (Min) | 15 | 135 | ₹202,905 |
| S-HNI (Max) | 73 | 657 | ₹987,471 |
| B-HNI (Min) | 74 | 666 | ₹1,000,998 |
| Lot Size Calculator | |||
The company's promoters are Hitesh Chimanlal Doshi, Viren Chimanlal Doshi, Pankaj Chimanlal Doshi and Waaree Sustainable Finance Private Limited.
| Share Holding Pre Issue | 72.32% |
| Share Holding Post Issue |
Incorporated in December 1990, Waaree Energies Limited is an Indian manufacturer of solar PV modules with an aggregate installed capacity of 12 GW.
The product portfolio of solar energy products consists of the following PV modules
As of June 30, 2023, the company operates four manufacturing facilities in India, covering a total area of 136.30 acres. These facilities are located in Surat, Tumb, Nandigram, and Chikhli in Gujarat, India.
The Tumb facility is certified with ISO 45001:2018 and ISO 14001:2015 for the manufacture, marketing, supply, and installation of solar photovoltaic modules. The Chikhli facility is certified with ISO 45001:2018, ISO 9001:2015, and ISO 14001:2015 for solar photovoltaic module manufacturing, marketing, and supply.The company also comply with various safety standards for its PV modules.
As of March 31, 2021, 2022, and 2023, and as of June 30, 2023, the company served a total of 1,381, 716, 566, and 373 customers in India, respectively. Outside India, the company served 31, 26, 33, and 20 customers during the same periods.
Competitive Strength
As of June 30, 2023, the company had 1,019 full-time employees.
Waaree Energies Limited's revenue increased by 70% and profit after tax (PAT) rose by 155% between the financial year ending with March 31, 2024 and March 31, 2023.
| Period Ended | 30 Jun 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 | ||||||||||||||||||||||||||||||||||||
| Assets | 11,989.48 | 11,313.73 | 7,419.92 | 2,237.4 | ||||||||||||||||||||||||||||||||||||
| Revenue | 3,496.41 | 11,632.76 | 6,860.36 | 2,945.85 | ||||||||||||||||||||||||||||||||||||
| Profit After Tax | 401.13 | 1,274.38 | 500.28 | 79.65 | ||||||||||||||||||||||||||||||||||||
| Net Worth | 4,471.71 | 4,074.84 | 1,826.02 | 427.13 | ||||||||||||||||||||||||||||||||||||
| Reserves and Surplus | 2,464.69 | 3,825 | 585.96 | 230.43 | ||||||||||||||||||||||||||||||||||||
| Total Borrowing | 261.24 | 317.32 | 273.48 | 313.08 | ||||||||||||||||||||||||||||||||||||
| Amount in ₹ Crore | ||||||||||||||||||||||||||||||||||||||||
The market capitalization of Waaree Energies IPO is Rs 42939.36 Cr.
KPI as of June 30, 2024.
| KPI | Values |
|---|---|
| ROE | 8.79% |
| ROCE | 9.45% |
| Debt/Equity | 0.06 |
| RoNW | 8.81% |
| P/BV | 8.84 |
| PAT Margin (%) | 11.47 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 48.69 | 56.16 |
| P/E (x) | 30.87 | 26.76 |
The net proceeds of the Fresh Issue are proposed to be utilised in the following manner:
Waaree Energies Limited
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/
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
Lead Manager Reports
Waaree Energies IPO is a main-board IPO of 28,752,095 equity shares of the face value of ₹10 aggregating up to ₹4,321.44 Crores. The issue is priced at ₹1427 to ₹1503 per share. The minimum order quantity is 9 Shares.
The IPO opens on October 21, 2024, and closes on October 23, 2024.
Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Waaree Energies IPO using UPI as a payment gateway. Zerodha customers can apply in Waaree Energies IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Waaree Energies IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Waaree Energies IPO opens on October 21, 2024 and closes on October 23, 2024.
Waaree Energies IPO lot size is 9 Shares, and the minimum amount required is ₹13,527.
You can apply in Waaree Energies IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Waaree Energies IPO will be done on Thursday, October 24, 2024, and the allotted shares will be credited to your demat account by Friday, October 25, 2024. Check the Waaree Energies IPO allotment status.
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