Waaree Energies IPO
Introduction to Waaree Energies
Incorporated in December 1990, Waaree Energies Limited is a leading Indian manufacturer of solar PV modules, with a significant installed capacity of 12 GW. Over the years, it has established itself as a key player in the renewable energy sector, offering a diverse portfolio of solar energy products. Product Portfolio Waaree Energies offers a variety of PV modules designed to meet the evolving needs of the solar energy market. Their product lineup includes:
Multicrystalline Modules
Monocrystalline Modules
TopCon Modules, which include flexible bifacial modules (Mono PERC), available in both framed and unframed versions. Additionally, they offer building-integrated photovoltaic (BIPV) modules for more advanced installations.
Manufacturing Facilities The company operates four state-of-the-art manufacturing facilities spread across 136.30 acres. These facilities are located in Surat, Tumb, Nandigram, and Chikhli, all in Gujarat, India.
Tumb Facility: ISO 45001:2018 and ISO 14001:2015 certified for manufacturing, marketing, supply, and installation of solar photovoltaic modules.
Chikhli Facility: ISO 45001:2018, ISO 9001:2015, and ISO 14001:2015 certified for manufacturing, marketing, and supply of solar PV modules.
Promoter Holding
Pre-Issue Holding: 71.80%
Post-Issue Holding: 64.30%
The company’s promoters include Hitesh Chimanlal Doshi, Viren Chimanlal Doshi, Pankaj Chimanlal Doshi, and Waaree Sustainable Finance Private Limited.
Objects of the Issue
The primary objectives of the Waaree Energies IPO are as follows:
Capital Expenditure: To fund expansion and enhance production capacity.
General Corporate Purposes: Address other operational and strategic needs.
Waaree Energies Key IPO Details
IPO Dates: 21 - 23 October, 2024
Price Band: ₹1,427 to ₹1,503 per share
Lot Size: 9 shares
Total Issue Size: ₹4,321.44 Crores
Retail Quota: 35%
GMP: +80% (For informational purposes only)
Listing Date: 28th October, 2024
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