Waaree Energies Limited IPO GMP Today, Date, Price, Subscription Status

Waaree Energies Limited IPO Overview

The Waaree Energies IPO is a substantial book-built issue valued at ₹4,321.44 crores, consisting of a fresh issue of 2.4 crore shares worth ₹3,600 crores and an offer for sale of 0.48 crore shares totaling ₹721.44 crores. This IPO will open for subscription on October 21, 2024, and close on October 23, 2024, with allotments expected to be finalized on October 24, 2024. Waaree Energies shares will be listed on both BSE and NSE, with a tentative listing date set for October 28, 2024.

The price band for the IPO is established between ₹1427 and ₹1503 per share, requiring a minimum lot size of 9 shares and a minimum investment of ₹13,527 for retail investors. sNII investors must apply for 15 lots (135 shares) for a total investment of ₹202,905, while bNII investors need to purchase 74 lots (666 shares), amounting to ₹1,000,998. The IPO is managed by prominent book running lead managers, including Axis Capital Limited, Iifl Securities Ltd, Jefferies India Private Limited, and others, with Link Intime India Private Ltd acting as the registrar.

Waaree Energies Limited IPO Important dates

Waaree Energies IPO opens on October 21, 2024, and closes on October 23, 2024.

IPO Open Date	Monday, October 21, 2024
IPO Close Date	Wednesday, October 23, 2024
Basis of Allotment	Thursday, October 24, 2024
Initiation of Refunds	Friday, October 25, 2024
Credit of Shares to Demat	Friday, October 25, 2024
Listing Date	Monday, October 28, 2024
Cut-off time for UPI mandate confirmation	5 PM on October 23, 2024

Waaree Energies Limited Financial Performance

Waaree Energies Limited’s revenue increased by 70% and profit after tax (PAT) rose by 155% between the financial year ending with March 31, 2024 and March 31, 2023.

Financial Metrics	30 Jun 2024	31 Mar 2024	31 Mar 2023	31 Mar 2022
Assets (₹ Crore)	11,989.48 Crore	11,313.73 Crore	7,419.92 Crore	2,237.4 Crore
Revenue (₹ Crore)	3,496.41 Crore	11,632.76 Crore	6,860.36 Crore	2,945.85 Crore
Profit After Tax (₹ Crore)	401.13 Crore	1,274.38 Crore	500.28 Crore	79.65 Crore
Net Worth (₹ Crore)	4,471.71 Crore	4,074.84 Crore	1,826.02 Crore	427.13 Crore
Reserves and Surplus (₹ Crore)	2,464.69 Crore	3,825 Crore	585.96 Crore	230.43 Crore
Total Borrowing (₹ Crore)	261.24 Crore	317.32 Crore	273.48 Crore	313.08 Crore

Waaree Energies Limited IPO Key Performance Indicator

The market capitalization of Waaree Energies IPO is Rs 42939.36 Cr. KPI as of June 30, 2024.

Waaree Energies Limited IPO Objectives

The net proceeds of the Fresh Issue are proposed to be utilised in the following manner:

1. Part finance the cost of establishing the 6GW of Ingot Wafer, Solar Cell and Solar PV Module manufacturing facility in Odisha, India(“Project”).
2. General corporate purposes.

Waaree Energies Limited IPO Lot Size

Investors can bid for a minimum of 9 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.

Application	Lots	Shares	Amount
Retail (Min)	1	9	₹13,527
Retail (Max)	14	126	₹189,378
S-HNI (Min)	15	135	₹202,905
S-HNI (Max)	73	657	₹987,471
B-HNI (Min)	74	666	₹1,000,998

Waaree Energies Limited IPO Details

IPO Date	October 21, 2024 to October 23, 2024
Listing Date	[October 28, 2024]
Face Value	₹10 per share
Price Band	₹1427 to ₹1503 per share
Lot Size	9 Shares
Total Issue Size	28,752,095 shares (aggregating up to ₹4,321.44 Cr)
Fresh Issue	23,952,095 shares (aggregating up to ₹3,600.00 Cr)
Offer for Sale	4,800,000 shares of ₹10 (aggregating up to ₹721.44 Cr)
Issue Type	Book Built Issue IPO
Listing At	BSE, NSE
Share holding pre issue	263,331,104
Share holding post issue	287,283,199

Waaree Energies Limited Company Overview and Services

Incorporated in December 1990, Waaree Energies Limited stands as a prominent Indian manufacturer of solar photovoltaic (PV) modules, boasting an impressive installed capacity of 12 GW. The company’s diverse product portfolio includes a range of solar energy solutions, such as:

• Multicrystalline modules
• Monocrystalline modules
• TopCon modules, featuring flexible bifacial options (Mono PERC) and building-integrated photovoltaic (BIPV) modules, available in both framed and unframed designs.

As of June 30, 2023, Waaree operates four state-of-the-art manufacturing facilities in India, covering a total area of 136.30 acres located in Surat, Tumb, Nandigram, and Chikhli, Gujarat. Notably, the Tumb facility is certified with ISO 45001:2018 and ISO 14001:2015 for the manufacture, marketing, supply, and installation of solar PV modules, while the Chikhli facility holds certifications for ISO 45001:2018, ISO 9001:2015, and ISO 14001:2015.

The company has consistently met safety standards for its PV modules, serving a growing customer base in India and abroad. As of the latest updates, Waaree Energies has served 1,381, 716, 566, and 373 customers in India from March 31, 2021, to June 30, 2023, while serving 31, 26, 33, and 20 customers outside India during the same periods.

Competitive Strengths:

• The largest solar PV module manufacturer in India
• A diversified customer base with a robust global order book
• Advanced manufacturing facilities with global accreditations
• An extensive Pan India retail network
• A consistent track record of financial performance
• An experienced management team driving innovation and growth

As of June 30, 2023, Waaree Energies is supported by a dedicated team of 1,019 full-time employees, positioning itself as a leader in the solar energy sector.

Waaree Energies Limited IPO SWOT Analysis

Strengths:

1. Market Leadership: Waaree Energies is one of India’s largest solar manufacturers, providing a strong competitive advantage in a growing market.
2. Diverse Product Portfolio: The company offers a wide range of solar products, including solar panels, inverters, and energy storage solutions, catering to various customer needs.
3. Strong Financial Performance: Consistent revenue growth and profitability highlight the company’s robust financial health, attracting potential investors.
4. Established Brand Reputation: With a presence in over 20 countries and a solid track record, Waaree enjoys a strong brand reputation in the renewable energy sector.

Weaknesses:

1. Dependence on Government Policies: The company’s performance is heavily influenced by government policies and incentives for renewable energy, making it vulnerable to regulatory changes.
2. High Capital Requirements: The solar energy sector requires significant upfront investment, which may impact the company’s cash flow and financial flexibility.
3. Limited International Diversification: While Waaree operates in multiple countries, a significant portion of revenue comes from India, exposing the company to local market risks.

Opportunities:

1. Growing Renewable Energy Market: Increasing global focus on renewable energy and sustainability presents significant growth opportunities for Waaree Energies.
2. Technological Advancements: Innovations in solar technology can lead to improved efficiency and cost reductions, enhancing the company’s competitiveness.
3. Strategic Partnerships: Collaborations with international firms can help Waaree expand its market presence and access new customer segments.

Threats:

1. Intense Competition: The solar manufacturing industry is highly competitive, with numerous players entering the market, potentially impacting profit margins.
2. Supply Chain Challenges: Fluctuations in raw material prices and supply chain disruptions can adversely affect production and operational efficiency.
3. Economic Fluctuations: Economic downturns can lead to reduced investment in renewable energy projects, affecting sales and profitability.

Waaree Energies Limited IPO GMP Details

Waaree Energies IPO last GMP is ₹1375, last updated Oct 23rd 2024. With the price band of 1503.00, Waaree Energies IPO’s estimated listing price is ₹2878 (cap price + today’s GMP).The expected percentage gain/loss per share is 91.48%.

GMP Date	IPO Price	GMP	Sub2 Sauda Rate	Estimated Listing Price	Last Updated
23-10-2024 Close	1503.00	₹1375	9400/141000	₹2878 (91.48%)	23-Oct-2024
22-10-2024	1503.00	₹1375	9400/141000	₹2878 (91.48%)	22-Oct-2024
21-10-2024 Open	1503.00	₹1500	10300/154500	₹3003 (99.8%)	21-Oct-2024
20-10-2024	1503.00	₹1510	10300/154500	₹3013 (100.47%)	20-Oct-2024
19-10-2024	1503.00	₹1470	10100/151500	₹2973 (97.8%)	19-Oct-2024
18-10-2024	1503.00	₹1425	9700/145500	₹2928 (94.81%)	18-Oct-2024
17-10-2024	1503.00	₹1330	9100/136500	₹2833 (88.49%)	17-Oct-2024
16-10-2024	1503.00	₹1545	10600/159000	₹3048 (102.79%)	16-Oct-2024
15-10-2024	NA	₹1280	—	₹1280 (%)	15-Oct-2024

What is IPO GMP?

The grey market premium (GMP) reflects the unofficial trading price of an IPO prior to its listing, offering insights into its potential market performance. A positive GMP indicates that the IPO may yield profits, while a negative GMP suggests a possible discount upon listing. However, it’s essential to recognize that IPO GMP can be highly volatile. Therefore, investors should not make decisions solely based on the GMP but should thoroughly assess all relevant factors before investing.

Waaree Energies Limited IPO subscription status 

Waaree Energies IPO subscribed 9.19 times. The public issue subscribed 6.69 times in the retail category, 1.82 times in QIB, and 24.75 times in the NII category by October 22, 2024 (Day 2).

Total Application : 5,325,837 (4.84 times)

Disclaimer: *The total amount is calculated based on the final issue price or the price in the upper price range.

Waaree Energies Limited IPO Allotment status 

The allotment status of Waaree Energies IPO is expected to be available on October 24, 2024.

Waaree Energies IPO allotment status is not available at this time. Waaree Energies IPO – The allotment status will be available once the basis of allotment is finalized. Please revisit us to check the latest updates for Waaree Energies Limited IPO allotment status.

To check Waaree Energies IPO allotment status, follow the steps below:

1. Click on the below allotment status check button.
2. Select Company Name.
3. Enter your PAN Number, Application Number or DP Client ID (Anyone).
4. Click on Search.

On securing the allotment, you will receive the credit of equivalent shares in your Demat account.

If you have any concerns or queries about the allotment status, contact Link Intime India Private Ltd either by phone or email. Investors can call on +91-22-4918 6270 or send an email with all relevant details to waaree.ipo@linkintime.co.in.

Waaree Energies Limited Contact Details

Waaree Energies Limited
602, 6th Floor, Western Edge I,
Western Express Highway,
Borivali (East), Mumbai -400066
Phone: +91 22 66444444
Email: investorrelations@waaree.com
Website: https://waaree.com/

Disclaimer: Investing in Initial Public Offerings (IPOs) involves substantial risk, and financial returns are not guaranteed. The information provided should not be construed as financial or investment advice. Prospective investors are advised to consider their financial situation, investment objectives, and risk tolerance before participating in an IPO. It is recommended to consult with a qualified financial advisor or professional before making any investment decisions. Past performance is not indicative of future results. Investments in IPOs may be subject to market risk, including the potential loss of principal.