Waaree Energies has announced that it will launch its initial public offering (IPO) on October 21, 2024. The anchor investor bidding date is October 18, 2024 and the offer closing date is October 23, 2024. The total number of offered equity shares is 4.8 million at a total value of Rs 36 billion. The shares have a face value of Rs 10 and the price band is fixed at Rs 1,427 per equity share to Rs 1,503 per equity share. Bids can be made for a minimum of 9 equity shares and in multiples of 9 equity shares thereafter. Waaree Sustainable Finance Private Limited will be providing 4.35 million shares while Chandurkar Investments Private Limited will be the other selling shareholder of 0.45 million shares.
Reportedly, a certain percentage of shares have been reserved for employees under the “employee reservation portion” and the remaining is referred to as “net offer”. Furthermore, an allocation of 15 per cent or more of the net offer has been for non-institutional bidders. The equity shares of the will be listed on BSE Limited (BSE) and the National Stock Exchange of India Limited (NSE).
The book running lead managers to the offer 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 Limited bagged a 90 MW order from Juniper Green Cosmic Private Limited to supply 540/545Wp dual glass bifacial modules to Juniper Green for their solar project in Bikaner, Rajasthan.
