Waaree Energies IPO

Oct 18, 2024 Credit: iStock

Mumbai-based Waaree Energies’s initial public offering (IPO) will open on Monday, October 21 and close on Wednesday, October 23. Credit: Canva

Price band

Waaree Energies has fixed a price band of ₹1,427-₹1,503 per share for its public issue. Credit: Unsp​lash

About the company

Waaree Energies is a Mumbai-based manufacturer of solar PV modules. Credit: Canva

IPO size

Waaree Energies is looking to raise ₹4,321.44 crore from the current IPO. This includes a fresh issue of ₹3,600 crore and an offer for sale (OFS) component of ₹721.44 crore. Credit: iStock

Lot size

Investors can bid for a minimum of 9 shares and in multiples of 9 shares thereafter. Credit: Unsplash

Current operations

Waaree Energies, founded in 1990 currently has four manufacturing facilities in India, spanning 136.30 acres. The company serves both domestic and international customers. Credit: iStock

Financials

The company’s income was ₹11,632.76 crore in FY24, up from ₹6,860.36 crore in FY23. The company reported a profit of ₹1,274.38 crore in FY24, up from ₹500.28 crore profit reported in FY23. Credit: iStock

Risk factors

The company is heavily reliant on exports, exposing it to uncertainties in the international market. It is also dependent on China for its raw materials. Credit: iStock

Objectives of the issue

The funds raised will be used for establishing a new manufacturing facility and for general corporate purposes. Credit: iStock

Disclaimer

The content on this website is for informational purposes only and should not be construed as investment advice. We recommend that readers consult certified, qualified, and registered advisors for professional and personalised financial advice. Credit: Canva