Waaree Energies IPO subscription starts on 21 October 2024 and will close on 23 October 2024. Waaree Energies plans to raise around INR 4,321 crores via the IPO. The price band is fixed at INR 1,427 – 1,503 per share. Waaree Energies IPO market lot has 9 shares and the minimum application amount is INR 13,527. The retail quota is 35%, QIB is 50% and NII is 15%.
Check Waaree Energies IPO subscription status here. The subscription figures are taken from BSE and NSE and are updated at regular intervals. Here you can find Waaree Energies IPO subscription status segregated by days and investor categories.
Waaree Energies IPO Subscription Status – Live Updates
| Category | QIB | NII | Retail | Emp | Total |
| Shares Offered | 58,37,757 | 44,35,838 | 1,03,50,288 | 4,55,501 | 2,10,79,384 |
| 23 Oct 2024 | 208.63 | 62.49 | 10.79 | 5.17 | 76.34 |
| 22 Oct 2024 | 1.73 | 24.38 | 6.39 | 3.11 | 8.81 |
| 21 Oct 2024 | 0.08 | 8.09 | 3.17 | 1.57 | 3.32 |
Shares allotted to anchor investors are not included in these calculations. Similarly, shares allotted to market makers, if any, are not part of these calculations.
Waaree Energies – Business Background
Waaree Energies is India’s largest solar PV Module manufacturer with annual capacity of 12 GW as of 30 June 2024. The company has plants in Surat, Tumb, Nandigram, and Chikhli in the state of Gujarat, India.
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.
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Investor Categories in Waaree Energies IPO Subscription
The three most important categories of IPO investors defined by SEBI are part of Waaree Energies IPO.
Qualified Institutional Buyers (QIB) – Examples of QIBs are Foreign Portfolio Investors (FPIs), Scheduled Commercial Banks, Mutual Funds, Venture Capital Funds, Foreign Venture Capital Investors (FVCIs), Alternative Investment Funds (AIFs), Insurance Companies, Provident Funds and Pension Funds with a minimum corpus of INR 250 million.
Generally, 50% of the offer is reserved for QIBs. Some of these are classified as anchor investors which work towards stabilizing an IPO.
Non-Institutional Investor (NII) – These are affluent investors who can invest more than INR 200,000. In other words, these are High Networth Individuals (HNIs). Generally, 15% of the offer is reserved for this category. Bids in the category need to exceed INR 200,000. Typical examples include Category III FPIs, resident Indian individuals, HUFs (in the name of Karta), companies, corporate bodies, eligible NRIs, scientific institutions, societies, and trusts.
The NII category is further divided into two – big and small – the threshold application amount being INR 10,00,000 (INR 10 lakh).
Retail Individual Investor (RII) – This category is purely meant for small investors, whose bid must not exceed INR 200,000 per person. Usually, 35% of total shares are reserved for this category in the case of a company with profitable operations. In the event of the IPO-bound company not fulfilling this criterion, only 10% of shares are reserved for retail investors.
Employee – Shares reserved for company employees are not part of the Net Offer and there may additionally be a discount on offer price to encourage employees to subscribe. Investors in the employee category may also apply under the retail category in an IPO. Therefore, this category of IPO investors has a unique advantage.
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Waaree Energies IPO Subscription Status FAQs
When will Waaree Energies IPO subscription start?
Waaree Energies IPO subscription starts on 21 October and ends on 23 October 2024.
How to subscribe to Waaree Energies IPO?
You can subscribe to the IPO through ASBA and non-ASBA options. To use ASBA, login to your bank account and apply for the IPO online. Alternatively, you can download the form online or obtain a physical form, then submit the completed form to your broker or bank.
When will Waaree Energies IPO be listed?
Waaree Energies IPO will be listed on 28 October 2024, at the BSE and NSE stock exchanges.
