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Complete IPO details, including price band, financials, subscription status, and key insights.
Participate in the Waaree Energies Ltd IPO with full transparency. Review issue details, company fundamentals, and financial performance, and apply securely through Alice Blue.
Key metrics and details at a glance.
Price Band
₹1,503
Per ShareLot Size
9 Shares
Minimum Investment
₹13,527
Issue Size
₹4,321.44 Cr
Face Value
₹10
Per ShareIPO Type
Book Building
Retail Quota
35%
QIB Quota
50%
NII Quota
15%
Important dates for your applying strategy.
Business model, operations, and market positioning.
Promoter Holding (Pre-Issue)
71.8%
Promoter Holding (Post-Issue)
64.28%
Issue Type
Book Building
ISIN
INE377N01017
We are a manufacturer of solar PV modules in India with an aggregate installed capacity of 12 GW and utilized capacity of 43.37%, as of and for the year ended March 31, 2024 and an aggregate installed capacity of 12 GW and utilized capacity of 45.01%, as of and for the three months ended June 30, 2024 (on an unannualized basis). Our portfolio of solar energy products consists of the following PV modules: (i) multicrystalline modules; (ii) monocrystalline modules; and (iii) TopCon modules, comprising flexible modules, which includes bifacial modules (Mono PERC) (framed and unframed), and building integrated photo voltaic (BIPV) modules.
The Indian commercial and industrial solar sector added approximately 10GW over Fiscal 2019 and 2023, with total installed capacity as of December 2023 at approximately 25 GW. The commercial & industrial segment accounts for 70%-80% of the country's rooftop solar installations and is making headway in the utility-scale solar space as well through open access and group captive routes. Capacity additions picked up in the last two years in response to the easing of pandemic restrictions and increasing power demand.
Revenue, profit after tax and total assets across the last 3 reported financial years.
Amount in ₹ crore
How the company plans to utilize IPO proceeds.
The funds raised through this IPO will be used for:
Initial public offering of 28,752,095 equity shares of face value of Rs. 10 each of the company ("Equity Shares") for cash at a price of Rs. 1,503 per equity share (including a share premium of Rs. 1,493 per equity share) ("Offer Price") aggregating to Rs. 4321.44 crores (the "Offer") comprises a fresh issue of 23,952,095 equity shares aggregating to Rs. 3600.00 crores ("Fresh Issue") and an offer for sale of 4,800,000 equity shares ("Offered Shares") aggregating to Rs. 721.44 crores comprising 4,350,000 equity shares by Waaree Sustainable Finance Private Limited aggregating to Rs. 653.81 crores ("Promoter Selling Shareholder") and 450,000 equity shares by Chandurkar Investments Private Limited aggregating to Rs. 67.64 crores ("Other Selling Shareholder" and together with the promoter selling shareholder, the "Selling Shareholders", and such offer for sale of equity shares by the selling shareholders, the "Offer for Sale"). The offer included a reservation of 432,468 equity shares aggregating to Rs. 65.00 crores, for subscription by eligible employees (as defined hereinafter) (the "Employee Reservation Portion"). The offer less the employee reservation portion is hereinafter referred to as the "Net Offer". The offer and the net offer constituted 10.01% and 9.86% of the post-offer paid up equity share capital of the company, respectively. The face value of the equity share is Rs. 10 each. The offer price is 150.30 times the face value of the equity shares.
*Subject to approvals and market conditions.
Key competitive advantages and factors to consider before investing.
Live demand across investor categories.
Track real-time subscription levels:
*Real-time data subject to exchange updates
Waaree Energies Limited was originally incorporated as `Anmol Fluid Connectors Private Limited' at Mumbai, Maharashtra as a private limited company under the Companies Act, 1956, pursuant to a certificate of incorporation dated December 18, 1990, issued by the Registrar of Companies, Maharashtra at Mumbai ("RoC"). The name of the Company was changed to `Waaree Solar Private Limited', pursuant to a fresh certificate of incorporation issued by the RoC on April 25, 2007. The name of the Company was further changed to `Waaree Energies Priave Limited', pursuant to a fresh certificate of incorporation issued by the RoC on October 15, 2007. The name of the Company was further changed to `Waaree Energies Private Limited', pursuant to a fresh certificate of incorporation issued by the RoC on December 12, 2007. Thereafter, the Company was converted into a public limited company pursuant to a special resolution passed in the extraordinary general meeting of the Shareholders held on March 8, 2013, and consequently the name of the Company was changed to its present name i.e., `Waaree Energies Limited', pursuant to a fresh certificate of incorporation issued by the RoC on May 2, 2013.
The Company's utility and enterprise clients in India include ReNew Power, ACME, Hero Solar, Mahindra Susten, Essel Infra, AMP Energy, Sukhbir Agro Energy, Solarworld Energy, Rays Power Infra. The Company's international clients include Central 40, Novel Energy and Merlin Solar Technologies.
Amount in ₹ crore
Amount in ₹ crore
Figures in ₹ crore, on a consolidated basis, as reported for FY24 to FY26.