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 2023, 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 November 2023, the company’s outstanding order book for solar PV modules reached 20.16 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 2023, its retail network consisted of 284 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)
Waaree Energies IPO Details
| Waaree Energies IPO Dates | 22 – 25 October 2024 (Tentative) |
| Waaree Energies Issue Price | Coming soon |
| Fresh issue | INR 3,000 crore |
| Offer For Sale | 3,200,000 shares |
| Total IPO size | Coming soon |
| Minimum bid (lot size) | Coming soon |
| Face Value | INR 10 per share |
| Retail Allocation | 35% |
| Listing On | BSE, NSE |
Waaree Energies Financial Performance
| Â | FY 2021 | FY 2022 | FY 2023 | Q1 FY 2024 |
| Revenue | 1,953.04 | 2,854.27 | 6,750.87 | 3,328.29 |
| Expenses | 1,920.52 | 2,827.48 | 6,162.63 | 2,957.64 |
| Net income | 45.61 | 79.65 | 500.28 | 338.27 |
| Margin (%) | 2.34 | 2.79 | 7.41 | 10.16 |
Waaree Energies IPO News
Waaree Energies Valuations & Margins
| FY 2021 | FY 2022 | FY 2023 | |
| EPS | 2.36 | 3.84 | 21.57 |
| PE ratio | – | – | – |
| RONW (%) | 13.23 | 17.71 | 26.44 |
| NAV | 17.87 | 21.67 | 75.03 |
| ROCE (%) | 14.87 | 21.89 | 31.61 |
| EBITDA (%) | 6.34 | 6.88 | 13.76 |
| Debt/Equity | 0.79 | 0.72 | 0.15 |
Waaree Energies IPO GMP Today (Daily Trend)
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, India (Project) – INR 9,049.96 crore
- General corporate purposes
Waaree Energies IPO Subscription – Live Updates
Coming soon
Waaree Energies – Comparison With Listed Peers
| Company | Face Value | PE ratio | EPS | RONW (%) | NAV | Revenue (Cr.) |
| Waaree Energies | 10 | – | 21.57 | 26.44 | 75.03 | 6,860.36 |
| Websol Energy System | 10 | NA | (6.31) | (12,628.95) | 0.05 | 17.22 |
Waaree Energies IPO Allotment Status
Waaree Energies IPO allotment will be available on Link Intime’s website. Click on this link to get allotment status.
Waaree Energies IPO Dates & Listing Performance
| IPO Opening Date | Coming soon |
| IPO Closing Date | Coming soon |
| Finalization of Basis of Allotment | Coming soon |
| Initiation of refunds | Coming soon |
| Transfer of shares to demat accounts | Coming soon |
| Waaree Energies IPO Listing Date | Coming soon |
| Opening Price on NSE | Coming soon |
| Closing Price on NSE | Coming soon |
Waaree Energies IPO Reviews – Subscribe or Avoid?
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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: [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: [email protected]
Website:Â www.linkintime.co.in
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: [email protected]
Website: www.waaree.com
Waaree Energies IPO FAQs
How many shares in Waaree Energies IPO 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 NA 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 NA per application.
