Waaree Energies IPO Description – Waaree Energies is the flagship company of the Waaree Group, boasting India’s largest solar PV Module manufacturing capacity of 12 GW as of 30 June 2024, with plants located in Surat, Tumb, Nandigram, and Chikhli in the state of Gujarat, India.
The array of its solar energy offerings encompasses three types of PV modules: (i) multicrystalline modules; (ii) monocrystalline modules; and (iii) TopCon modules. This includes a variety of flexible modules, such as bifacial modules (Mono PERC) available in both framed and unframed options, as well as building-integrated photovoltaic (BIPV) modules.
Furthermore, Waaree Energies boasts a substantial order backlog for solar PV modules. As of 30 June 2024, the company’s outstanding order book for solar PV modules reached 16.66 GW, encompassing domestic orders, export orders, and franchisee orders. Additionally, there are 3.75 GW of orders for its subsidiary, Waaree Solar Americas Inc., situated in the United States.
The company has developed longstanding relationships with a marquee customer base. Some of its key clients in the domestic utility and enterprise segment include ReNew Power, ACME, Hero Solar, Mahindra Susten, Essel Infra, AMP Energy, Sukhbir Agro Energy, Solarworld Energy, and Rays Power Infra. As of 30 June 2024, its retail network consisted of 369 franchisees across India. It has customers in the United States, Canada, Italy, Hong Kong, Turkey, and Vietnam.
Promoters of Waaree Energies – Hitesh Chimanlal Doshi, Viren Chimanlal Doshi, Pankaj Chimanlal Doshi and Waaree Sustainable Finance Private Limited (Formerly Known as Mahavir Thermoequip Private Limited)
Table of Contents
Waaree Energies IPO Details
| Waaree Energies IPO Dates | 21 – 23 October 2024 |
| Waaree Energies Issue Price | INR 1,427 – 1,503 per share |
| Fresh issue | INR 3,600 crore |
| Offer For Sale | 48,00,000 shares (INR 684.96 – 721.44 crore) |
| Total IPO size | INR 4,321.44 crore |
| Minimum bid (lot size) | 9 shares (INR 13,527) |
| Face Value | INR 10 per share |
| Retail Allocation | 35% |
| Listing On | BSE, NSE |
Waaree Energies Financial Performance
| Â | FY 2022 | FY 2023 | FY 2024 | Q1 FY 2025 |
| Revenue | 2,854.27 | 6,750.87 | 11,397.61 | 3,408.90 |
| Expenses | 2,827.48 | 6,162.63 | 10,239.90 | 2,965.88 |
| Net income | 79.65 | 500.28 | 1,274.38 | 401.13 |
| Margin (%) | 2.79 | 7.41 | 11.18 | 11.77 |
Waaree Energies IPO News
- Green Hydrogen Stocks in India
- Waaree Energies RHP
- Waree Energies IPO DRHP
- ASBA IPO Forms
- Live IPO Subscription Status
- IPO Subscription Status
Waaree Energies Valuations & Margins
| FY 2022 | FY 2023 | FY 2024 (Pre Issue) | FY 2024 (Post Issue)* | |
| EPS | 3.84 | 21.57 | 47.86 | 43.06 |
| PE Ratio | – | – | – | 33.14 – 34.90 |
* Calculated on the basis of annualized Profits After Tax for FY 2024
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | |
| RONW (%) | 13.23 | 17.70 | 26.45 | 30.36 |
| NAV | 17.87 | 21.68 | 75.01 | 154.96 |
| ROCE (%) | 14.87 | 21.89 | 31.61 | 26.29 |
| EBITDA (%) | 6.34 | 6.88 | 13.76 | 15.56 |
| Debt/Equity | 0.79 | 0.72 | 0.15 | 0.08 |
Waaree Energies IPO GMP Today (Daily Trend)
| Date | Day-wise IPO GMP | Subject to Sauda |
| 26 October 2024 | 1,200 | 9,000 |
| 25 October 2024 | 1,500 | 11,000 |
| 24 October 2024 | 1,500 | 11,000 |
| 23 October 2024 | 1,350 | 9,000 |
| 22 October 2024 | 1,450 | 10,000 |
| 21 October 2024 | 1,450 | 10,000 |
| 19 October 2024 | 1,400 | 10,000 |
| 18 October 2024 | 1,300 | 10,000 |
| 17 October 2024 | 1,350 | 10,000 |
| 16 October 2024 | 1,100 | 7,500 |
Waaree Energies IPO Objectives
The net proceeds of the Fresh Issue, i.e., gross proceeds of the Fresh Issue less the offer expenses apportioned to the company about the Fresh Issue (Net Proceeds) are proposed to be utilized 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 – INR 2,775 crore
- General corporate purposes
Waaree Energies IPO Dates & Listing Performance
| IPO Opening Date | 21 October 2024 |
| IPO Closing Date | 23 October 2024 |
| Finalization of Basis of Allotment | 24 October 2024 |
| Initiation of refunds | 25 October 2024 |
| Transfer of shares to demat accounts | 25 October 2024 |
| Waaree Energies IPO Listing Date | 28 October 2024 |
| Opening Price on NSE | INR 2,500 per share (up 66.33%) |
| Closing Price on NSE | INR 2,338.90 per share (up 55.62%) |
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Waaree Energies Offer Lead Manager
SBI CAPITAL MARKETS LIMITED
1501, 15th floor, A&B Wing
Parinee Crescenzo, G Block, Bandra Kurla Complex,
Bandra (East), Mumbai – 400 051, Maharashtra
Phone: +91 22 4006 9807
Email:Â [email protected]
Website:Â www.sbicaps.com
Waaree Energies Offer 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
Email:Â [email protected]
Website:Â www.linkintime.co.in
Waaree Energies Contact Details
WAAREE ENERGIES LIMITED
602, 6th Floor, Western Edge – I,
Western Express Highway, Borivali (East),
Mumbai – 400 066, Maharashtra, India
Phone:Â +91 22 6644 4444
Email:Â [email protected]
Website: www.waaree.com
Waaree Energies IPO FAQs
How many shares in Waaree Energies offer are reserved for HNIs and retail investors?
The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%.
How to apply in Waaree Energies Public Offer?
The best way to apply in Waaree public offer is through Internet banking ASBA (know all about ASBA here). You can also apply online through your stock broker using UPI. If you prefer to make paper applications, fill up an offline IPO form and deposit the same to your broker.
What is Waaree Energies IPO GMP today?
Waaree Energies IPO GMP today is INR 1,200 per share.
What is Waaree Energies IPO kostak rate today?
Waaree Energies IPO kostak rate today is NA per application.
What is Waaree Energies Subject to Sauda rate today?
Waaree Energies Subject to Sauda rate today is INR 9,000 per application.
