Waree Energies IPO: Price Band To Listing Dates; Everything You Need To Know About

The subscriptions for Waaree Energies' initial public offering (IPO) will open on October 21 of next week. Through its IPO, the solar panel manufacturer hopes to raise more than Rs 4,300 crore.

IPO size and price band

Waaree Energies' initial public offering (IPO) is valued at Rs 4,321.44 crore, with a price range of Rs 1.427 to Rs 1.503 per share.

A fresh issue of 2.4 crore shares, totalling Rs 3,600 crore, and an offer-for-sale (OFS) portion of 48 lakh shares, totalling Rs 721.44 crore, make up the mainboard public offer.

Minimum bid and IPO structure across categories

Waaree Energies has set aside 50 per cent of the net offer for institutional buyers who meet the requirements. Up to 35 per cent of the net issue has been reserved for the retail sector, and 15 per cent has been reserved for the non-institutional investor (NII) sector.

A minimum lot size of nine shares, or Rs 13,527 in total, is required for retail investors who wish to apply for the mainboard issue.

However, for small non-institutional investors (sNII), the minimum lot size for investment is 15 lots, comprising 135 shares, which equates to Rs 2,02,905.

74 lots, containing 666 shares in total, are available to big non-institutional investors (bNIIs) for a total investment of Rs 10,00,998.

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Subcription and listing timetable

On Monday, October 21, the IPO subscription is expected to open. The deadline for bidding is Wednesday, October 23. On Thursday, October 24, the Waaree Energies IPO share allocation status is anticipated to be finalised.

Following the share allocation, successful bidders will receive shares of Waaree Energies in their Demat accounts on the same day, while unsuccessful bidders will begin receiving refunds on Friday, October 25. The NSE and BSE will list shares of Waaree Energies. October 28 is the estimated date of the IPO listing.

Waaree renewables promotors

Hitesh Chimanlal Doshi, Viren Chimanlal Doshi, Pankaj Chimanlal Doshi, and Waaree Sustainable Finance Private Limited are the company's promoters. Prior to the public offering, the company's promoters held a combined 72.32 per cent stake in the business.

Company financials

Waaree Energies made Rs 3,496.41 crore in revenue and Rs 401.13 crore in profit-after-tax (PAT) for the quarter that ended on June 30, 2024 (Q1FY25). At the end of the current fiscal year's June quarter. From Rs 6,860.36 crore in FY23 to Rs 11,632.76 crore in FY24, Waaree Energies' revenue increased by more than 69 per cent.

Additionally, the company's PAT grew by over 154 per cent from Rs 500.28 crore in FY23 to Rs 1,274.38 crore in FY24. Compared to FY23, when it was worth Rs 1,826.02 crore, Waaree Energies' net worth grew by more than 123 per cent to Rs 4,074.84 crore.