The book-running lead managers of this IPO is Axis Capital Limited, IIFL Securities Limited, Jefferies India Private Limited, Nomura Financial Advisory and Securities (India) Private Limited, SBI Capital Markets Limited, Intensive Fiscal Services Private Limited, ITI Capital Limited. For more information check Waaree Energy IPO DRHP and RHP details.
Waaree Energy IPO Details
| IPO Issue Open Date: | 21 October 2024 |
| IPO Issue Close Date: | 23 October 2024 |
| IPO Issue Price Band: | ₹1427 to ₹1503 Per Share |
| Face Value: | ₹10 Per Equity Share |
| IPO Issue Size: | ₹4,321.44 Crores | 28,752,095 shares |
| Fresh Issue: | ₹3,600.00 Crores | 23,952,095 shares |
| Offer for Sale: | 4,800,000 Equity Share |
| Issue Type: | Book Built Issue |
| IPO Listing At: | BSE & NSE |
| IPO Retail Quota: | Not more than 35% |
| QIB Quota: | Not more than 50% |
| NII Quota: | Not more than 15% |
| Employee Discount: | ₹[.] per share |
Waaree Energy IPO Prospectus:
| DRHP Draft Prospectus: | Click Here |
| RHP Draft Prospectus: | Click Here |
Waaree Energy IPO Dates Timeline
| Issue Open Date: | 21 October 2024 |
| Issue Close Date: | 23 October 2024 |
| Basis of Allotment Date: | 24 October 2024 |
| Refunds Initiation: | 25 October 2024 |
| Shares Credit in Demat: | 25 October 2024 |
| IPO Listing Date Detail: | 28 October 2024 |
Waaree Energy IPO Market Lot
| Application | Lot Size, Shares and Price Details |
| Retail (Min) | 1 lots and 9 shares = ₹13,527 |
| Retail (Max) | 14 lots and 126 shares = ₹189,378 |
| HNI (Min) | 15 lots and 135 shares = ₹202,905 |
| B-HNI Minimum | 74 lots and 666 shares = ₹1,000,998 |
Waaree Energy IPO GMP*
| GMP Date | GMP Today | Subject to Sauda | Kostak | Expected Gain |
| Today | ₹1,275 | ₹11,000 | ₹- | 85% |
| 25th Oct | ₹1,590 | ₹12,000 | ₹1,500 | 106% |
| 24th Oct | ₹1,530 | ₹9,000 | ₹1,400 | 102% |
| 23th Oct | ₹1,375 | ₹9,000 | ₹1,400 | 91% |
| 22th Oct | ₹1,500 | ₹11,000 | ₹2,000 | 100% |
| 21th Oct | ₹1,510 | ₹10,000 | ₹2,000 | 100% |
| 18th Oct | ₹1,350 | ₹10,000 | ₹1,500 | 90% |
| 17th Oct | ₹1,550 | ₹12,000 | ₹1,800 | 103% |
| 16th Oct | ₹- | ₹1,300 | ₹- | ₹- |
| 14th Oct | ₹- | ₹- | ₹- | ₹- |
| 10th Oct | ₹- | ₹- | ₹- | ₹- |
About Waaree Energy
Waaree Energies Limited is India’s biggest producer of solar PV modules founded in 1990. Waaree Energy Limited started in 2007 and focused on producing solar PV modules to offer high-quality, reasonably priced sustainable energy solutions that open the door for sustainable energy and enhance quality of life. Their motto is to provide high-quality sustainable energy solutions to individuals and allow them to get a great customer base. Moreover, from August 31, 2021, they had a market share of 24% out of total aggregate installed capacity. Waaree Energy Limited currently consists of the following solar energy products: multicrystalline modules; and (ii) monocrystalline modules. They have also been recognized globally in many countries like the United States, Canada, Italy, Turkey, and Vietnam. The annual revenue for Waree energy limited for 2023-24 from operations is 1,13,976.09 million.
Waaree Energy IPO Strengths
- Largest solar PV module manufacturer in India
- Diversified base of global and Indian customers with a substantial order book
- Advanced manufacturing facilities with global accreditations
- Extensive pan-India retail network
- Consistent track record of financial performance
- Experienced senior management team with demonstrated execution capabilities and a committed employee base
Objects of the IPO Issue
- 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 Energy Company Financial Report
The company reported revenue of ₹6860.36 crores in 2024 against ₹2945.85 crores in 2023. The company reported a profit of ₹500.28 crores in 2024 against a loss of ₹79.65 crores in 2023.
| Period Ended | Revenue | Expense | Profit After Tax | Assets |
| 2021 | ₹1,983.01 | ₹1,920.52 | ₹45.61 | ₹1,293.16 |
| 2022 | ₹2,945.85 | ₹2,827.48 | ₹79.65 | ₹2,237.40 |
| 2023 | ₹6860.36 | ₹6,162.63 | ₹500.28 | ₹7,419.92 |
| June 2023 | ₹3,415 | ₹2,957.64 | ₹338.27 | ₹8,169.24 |
Waaree Energy IPO Valuation – Key Performance Indicator
Check Waaree Energy IPO valuations detail like Earning Per Share (EPS), Price/Earning P/E Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV) details.
| KPI | Values |
| ROE: | 26.26% |
| ROCE: | 31.61% |
| EBITDA Margin: | 13.76% |
| PAT Margin: | 7.29% |
| Debt to equity ratio: | 0.29 |
| Earning Per Share (EPS): | ₹21.82(Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | 26.44% |
| Net Asset Value (NAV): | ₹75.03 |
Peer Group Comparison
The below peer comparison table’s data are showing as per the DRHP and RHP.
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
| Websol Energy System Limited | (6.31) | NA | (12,628.95) | 0.05 | 17.22 Cr. |
Waaree Energy IPO Registrar
Link Intime India Private Limited
Phone: +91 81081 14949
Email: waaree.ipo@linkintime.co.in
Website: https://www.linkintime.co.in/Initial_Offer/public-issues.html
Waaree Energy IPO Lead Manager
- Axis Capital Limited
- IIFL Securities Limited
- Jefferies India Private Limited
- Nomura Financial Advisory and Securities (India) Private Limited
- SBI Capital Markets Limited
- Intensive Fiscal Services Private Limited
- ITI Capital Limited
Waaree Energy IPO allotment status check on Link Intime website. Click on Link Intime India Private Limited to get allotment status.
Promoters of Waaree Energy
- Hitesh Chimanlal Doshi
- Virenchimanlal Doshi
- Pankaj Chimanlal Doshiand Waaree Sustainable Finance Private Limited (Formerly Known As Mahavir Thermoequip Private Limited).
Company Address
Waaree Energy IPO Limited
602, 6thFloor, Western Edge –I,
Western Express Highway, Borivali (East),
Mumbai -400 066, Maharashtra, India
Phone: +91 22 6644 4444
Email: investorrelations@waaree.com
Website: www.waaree.com