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Bidding Date
21-Oct-2024 to
23-Oct-2024
Issue Size
₹4321.44 Cr
Price Band
₹1427 to ₹1503
Allotment date
24-Oct-2024
Listing date
28-Oct-2024
Lot size
9
No. of shares
2,87,52,096
Fresh issue/OFS
₹3600 Cr/₹721.44 Cr
Waaree Energies Ltd was established in 2007, with a focus on solar photovoltaic (PV) module manufacturing. Since then, it has grown to become the largest manufacturer of solar PV modules in India, with an installed capacity that increased from 4 GW in Fiscal 2022 to 12 GW by June 30, 2024. The company uses advanced technologies including multicrystalline, monocrystalline, and emerging Tunnel Oxide Passivated Contact (TOPCon) technologies to produce a diverse portfolio of solar energy products. These products include bifacial modules, flexible modules, and building-integrated photovoltaics (BIPV). The company has developed a robust sales strategy that includes direct sales to utilities and enterprises, export sales, retail sales through a franchise network, and additional revenue from EPC services and operations & maintenance.
Read our in-depth analysis of the Waaree Energies Ltd IPO Here 
Category
Status
QIBs
208.6x
NIIs
62.3x
Retail
10.6x
Others
5x
Total
76.2x
| Name | Price Band (Rs) | Bidding Date |
|---|---|---|
| Novus Loyalty | 139 - 146 | 17-Mar-2026 to 20-Mar-2026 |
| Amir Chand Jagdish Kumar (Exports) | 201 - 212 | 24-Mar-2026 to 27-Mar-2026 |
| Highness Microelectronics | 114 - 120 | 24-Mar-2026 to 27-Mar-2026 |
| Powerica | 375 - 395 | 24-Mar-2026 to 27-Mar-2026 |
The issue size of Waaree Energies is ₹4,321.44 Cr.
Waaree Energies falls into Energy Equipment & Services industry.
The Waaree Energies IPO will be listed on both NSE and BSE.
The open and close dates for the Waaree Energies are 21-Oct-2024 & 23-Oct-2024.
The price band for the Waaree Energies ipo is ₹1427 to ₹1503
The listing date of Waaree Energies IPO is 28-Oct-2024.
The purpose of this IPO is to raise fresh capital as well as enable the existing shareholders to sell their stake.
Waaree Energies total subscription ratio is 76.2X.
Key financial of the Waaree Energies are:
| Waaree Energies | FY-24 | FY-23 | FY-22 |
|---|---|---|---|
| Revenue (₹ Cr) | 11397.61 | 6750.87 | 2854.27 |
| EBIT (₹ Cr) | 1297.62 | 668.18 | 67.67 |
| Proft after Tax (₹ Cr) | 1274.38 | 500.28 | 79.65 |
| Debt (₹ Cr) | 855.92 | 859.26 | 370.8 |
| Net Worth (₹ Cr) | 4148.49 | 1861.85 | 439.85 |
| RoE (%) | 30.72 | 26.87 | 18.11 |
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