Waaree Energies Limited has received a nod of approval from SEBI to release its initial public offer (IPO). The IPO consists of fresh equity share worth Rs 30 billion and 3.2 million equity shares for offer for sale (OFS) at Rs 10 face value each. Out of the total shares in OFS, 50,000 equity shares are by Samir Surendra Shah, 450,000 shares by Chandrakar Investments and the remaining 2.7 million by Waaree Sustainable Finance. Waaree had filed the draft IPO papers in December 2023.
The Book Running Lead Managers on the issue are Axis Capital Limited, IIFL Securities Limited, Jefferies India Private Limited, Nomura Financial Advisory and Securities (India) Private Limited, SBI Capital Markets Limited, Intensive Fiscal Services Private Limited, and ITI Capital Limited.
In August 2024, Waaree Energies bagged a 90 MW order from Juniper Green Cosmic Private Limited. The company will supply 540/545Wp dual glass bifacial modules to Juniper Green for their solar project in Bikaner, Rajasthan. In July 2024, Waaree Renewable Technologies Limited received a repeat engineering, procurement and construction order from ISMT Limited for a ground-mounted solar power project of 30 MWp DC capacity.
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