Waaree Energies Limited
Bookbuilding IPO · NSE, BSE
- Price band
- ₹1427 - ₹1503
- Lot size
- 9 shares
- Issue amount
- ₹4,321.44 cr
- Total subscription
- 79.44×
- Opens
- 21 Oct 2024
- Closes
- 23 Oct 2024
- Allotment
- 25 Oct 2024
- Listing
- 28 Oct 2024
Offer at a glance
Issue overview
- Issue size
- 2,87,52,095 shares
- Face value
- ₹10 per share
- Minimum investment
- ₹12,843
- Fresh issue
- ₹3,600 cr
- Offer for sale
- ₹721.44 cr
- Registrar
- Link Intime India Private Limited
- Listing exchange
- NSE, BSE
- Maximum investment
- ₹13,527
- Issue type
- Bookbuilding IPO
- Shares before issue
- 26,33,31,104
- Shares after issue
- 28,72,83,199
Lot sizes
| Category | Lots | Shares | Amount |
|---|---|---|---|
| RETAIL | 1 | 9 | ₹13,527 |
| sHNI | 15 | 135 | ₹2,02,905 |
| bHNI | 74 | 666 | ₹10,00,998 |
Share reservation
Subscription & GMP
Subscription by category
Missing multiples are calculated from bids and offered shares when available.
GMP history
Application-wise demand
| Category | Reserved applications | Applied applications |
|---|---|---|
| HNIs(10L +) | 20,978 | 2,71,403 |
| HNIs (2-10L) | 10,489 | 4,99,825 |
| RETAIL | 11,01,319 | 88,22,104 |
Subscription demand
Amounts in ₹ crore. HNI subcategories are included in the NII total.
| Category | Offered | Demand |
|---|---|---|
| QIBs | 851.29 | 1,83,055.99 |
| RETAIL | 1,489.75 | 16,788.76 |
| HNIs 2+ | 212.82 | 11,300.71 |
| HNIs 10+ | 425.64 | 30,358.73 |
| EMPLOYEES | 65 | 354.15 |
Financial performance
Company financials
In Crores · Reported periods may include interim results.
Key performance indicators
| Metric | Jun-24 | Mar-24 | Mar-23 |
|---|---|---|---|
| EPS | 14.93 | 47.86 | 21.57 |
| ROE | 8.79 | 30.26 | 26.26 |
| ROCE | 9.45 | 26.29 | 31.61 |
| RONW | 8.81 | 30.36 | 26.45 |
| PRE IPO(PE) | 30.87 | 0 | 0 |
| POST IPO(PE) | 26.76 | 0 | 0 |
Values and labels as reported in the issue data.
Company information
Company profile
Founded in December 1990, Waaree Energies Limited is one of India’s leading solar panel manufacturers with a production capacity of 12 GW. The company produces a wide range of solar modules, including multicrystalline, monocrystalline, and advanced TopCon modules, along with flexible bifacial panels, framed and unframed modules, and building-integrated photovoltaic solutions. Waaree has four manufacturing plants in Gujarat, located in Surat, Tumb, Nandigram, and Chikhli, covering 136.30 acres in total. The Tumb and Chikhli units are ISO-certified for safety and quality. Over the years, the company has served numerous customers across India and abroad and employed 1,019 full-time staff as of June 30, 2023.
Strengths
- Strong Market Presence: Leading player in the solar sector with large production capacity and a healthy order book.
- Diverse Business Model: Operations span manufacturing, EPC projects, and power generation.
- Innovation-Driven: Continuous R&D investments enable high-quality and efficient solar modules.
Risk factors
- Policy Dependence: Business performance is highly influenced by government renewable energy policies and subsidies.
- Raw Material Volatility: Fluctuating prices of key inputs like silicon can affect profit margins.
- Intense Competition: Strong competition in the renewable sector puts pressure on pricing and technology upgrades.
Promoters
Hitesh Chimanlal Doshi
Viren Chimanlal Doshi
Pankaj Chimanlal Doshi
Waaree Sustainable Finance Private Limited
Registrar & documents
Lead manager
Axis Capital Limited, IIFL Capital Services Limited, Intensive Fiscal Services Private Limited, Iti Capital Limited, Jefferies India Private Limited, Nomura Financial Advisory, Securities (India) Private Limited, SBI Capital Markets Limited
Registrar & contacts
Link Intime India Private Limited
[email protected]Official registrar portal ↗IPO allotment status guide →Registered office
602, 6th Floor, Western Edge I, Western Express Highway, Borivali (East), Mumbai -400066
+91 22 66444444
[email protected]Company website ↗Understanding WAAREEENER IPO data
Compare the price band and required investment with the company profile, financial results and offer documents. Subscription figures show reported demand by category; they do not establish the value of the business. GMP is an unofficial indication and can change before listing.