Waaree Energies IPO

Waaree Energies Limited IPO: Issuing 2.39cr shares for ₹3,600cr & selling 48 lakh shares worth ₹721.44cr. Funds to set up Odisha plant & corporate purposes.

Important Details

Open Date : October 21, 2024 Close Date : October 23, 2024 Allotment Date: October 24, 2024 Listing Date: October 28, 2024

Important Details

IPO Price: INR 1,427-1,503 per  share Lot Size: 9 Shares Total Issue Size: INR 4,321.44cr

Fundamental Analysis

Waaree Energies IPO  shows mixed performance: 1. Strong revenue and profit growth. 2. Low debt & rising equity,Increasing NAV per share. 3. Healthy financial position. 4. Consider market conditions and risk tolerance.

Peer Comparison

1. Waaree Energies: Total income ₹116,327.63 million, EPS ₹47.86, RoNW 30.36%. 2. Websol Energy System: Total income ₹268.10 million, negative EPS ₹(29.99).

Objective

Waaree Energies IPO Objective: 1. Use INR 2,775 crore from net proceeds. 2. Partially finance a 6GW manufacturing facility for Ingot Wafer, Solar Cell, and Solar PV Module in Odisha. 3. Project managed by Sangam Solar One Private Limited.

Risks And Challenges

Waaree Energies IPO Risks: 1. Sales growth depends on franchise relationships. 2. Reliance on Chinese raw material imports poses risks. 3. Auditors raised concerns about loans and government dues.