In the highly competitive and fast-paced world of IPOs, Waaree Energies, MobiKwik, and Hyundai Motor India have made their mark with soaring market debuts, causing a frenzy among investors. Waaree Energies' IPO was over-subscribed a whopping 76 times, while Premier Energies' shares surged 87% on its market debut. Integrum Energy Infra and Raymond Lifestyle also made their mark with successful IPO filings and debuts. With the energy sector taking center stage, it seems that IPOs are the hottest trend for businesses looking to raise funds.
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.
The Rs 4,321-crore IPO of Waaree Energies, a Mumbai-based solar power solutions provider, has received a strong response from investors on the second day of bidding. The issue was oversubscribed by 5.53 times, with investors bidding for 9.5 crore shares against the 2.1 crore shares available. Retail investors oversubscribed by 4.88 times, while non-institutional investors oversubscribed by 14.55 times. Market observers have also noted a grey market premium of around Rs 1500 per share for the IPO.
Waaree Energies Ltd. is aiming for a significant increase in their margins by becoming a fully integrated manufacturing company by 2027. With a focus on cost management and their own cell capacities coming into play, the parent entity of Waaree Renewable Technologies Ltd. is confident that margins will expand, potentially up to 300 basis points. The upcoming IPO for Waaree Energies will help finance their expansion plans in Odisha and meet the demand for solar cells in the Indian market.
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.
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.