Waaree Energies, an Indian manufacturer of solar PV modules, will be launching its initial public offering (IPO) on Monday, October 21. The IPO includes a fresh share sale of Rs 3,600 crore and an offer-for-sale of up to 48,00,000 equity shares. The company plans to use the proceeds from the issue for establishing a new manufacturing facility and general corporate purposes. The IPO is expected to be listed on BSE and NSE on October 28.
Waaree Energies IPO: India's Leading Solar Energy Player Enters Public Markets
Background
Waaree Energies is one of India's leading manufacturers of solar photovoltaic (PV) modules. Founded in 1989, the company has emerged as a key player in the country's rapidly growing solar power industry. Waaree Energies has a strong presence in both the domestic and international markets, with a global footprint spanning over 100 countries.
IPO Details
On October 21, 2021, Waaree Energies launched its initial public offering (IPO), marking the company's entry into the public markets. The IPO comprises of:
The proceeds from the issue will be utilized for:
The IPO is expected to be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on October 28, 2021.
Growth Prospects
The Indian solar power market is poised for significant growth in the coming years. Driven by government initiatives, such as the Jawaharlal Nehru National Solar Mission, the country is expected to become one of the world's largest solar power hubs. Waaree Energies is well-positioned to capitalize on this growth, given its strong brand presence, extensive distribution network, and focus on innovation.
FAQs
1. What is the price band for the IPO? The price band for the IPO has been set at Rs 224-235 per share.
2. How many shares are being offered in the IPO? The IPO comprises a total of 19,200,000 shares, including 15,269,231 fresh shares and 3,930,769 offer-for-sale shares.
3. What is the minimum lot size for the IPO? The minimum lot size for the IPO is 60 shares.
4. What is the expected listing date for the IPO? The IPO is expected to be listed on BSE and NSE on October 28, 2021.
5. What is the company's debt-to-equity ratio? As of March 31, 2021, Waaree Energies' debt-to-equity ratio was 0.31.
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Waaree Energies, a leading Indian manufacturer of solar PV modules, has announced its IPO with a price band of Rs 1,427-1,503 per share. The IPO includes a fresh share sale of Rs 3,600 crore and an offer-for-sale of up to 48,00,000 equity shares. The solar company aims to raise Rs 4,321.44 crore and has a subsidiary, Waaree Renewable Technologies Limited, leading its solar EPC business. Investors can apply for a minimum of 9 equity shares and its multiples thereafter, with bidding closing on October 23.
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Rediff Money Desk, based in New Delhi, has recently announced a wave of upcoming IPOs in the business world. These include Waaree Energies, MobiKwik, Premier Energies, Garuda Construction, Kross, Tolins Tyres, Hyundai Motor India, and Baazar Style Retail. With raising amounts ranging from Rs 69 crore to a whopping Rs 27,870 crore, these IPOs are expected to bring major changes and advancements in their respective industries. Stay tuned for potential investment opportunities and witness the growing impact of these companies in the global market.
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