Mumbai-based solar energy company Waaree Energies has successfully raised Rs 4,321.44 crore through its highly subscribed IPO, reflecting investor confidence in the company. The IPO, which saw a strong response and was open for bidding from October 21 to October 23, garnered over 105% potential returns for investors with shares commanding a premium in the grey market. The proceeds from the IPO will primarily be used to develop a new manufacturing facility and for general corporate purposes.
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.
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.