Waaree Energies shares had a remarkable debut today, opening at ₹2,500 on NSE, reflecting a 66.33% increase from the issue price of ₹1,503. On BSE, the shares opened at ₹2,550, up 69.66% from the issue price, signaling strong market interest.
The Qualified Institutional Buyers (QIBs) segment was oversubscribed 208.63 times, while non-institutional investors subscribed 62.49 times, and Retail Individual Investors (RIIs) reached a subscription rate of 10.79 times. The public offer garnered over ₹2.41 lakh crore in total subscriptions, with 97.34 lakh applications received.
Waaree Energies, India’s largest solar PV module manufacturer, boasts an installed capacity of 12 GW and achieved the second-highest operating income among domestic producers for Fiscal 2024. Established in 2007, the company focuses on sustainable energy solutions, operating five manufacturing facilities in Surat, Tumb, Nandigram, Chikhli (Gujarat), and Noida to reduce carbon footprints and enhance quality of life.
The objective of the Waaree Energies IPO is to raise funds for expanding its solar manufacturing capacity, enhancing operational efficiency, and funding research and development initiatives. The company aims to strengthen its market position and capitalize on the growing demand for renewable energy solutions.