Waaree Energies IPO Details
| IPO Size | ₹4321.44 Cr |
| Price Range | ₹1427 - ₹1503 |
| Retail Quota | 35% |
| QIB Quota | 50% |
| NII Quota | 15% |
| Employee Discount | -- |
| Listing at | NSE and BSE |
| Minimum Quantity | 9 |
| Investment (cut-off price) | ₹13,527 |
| Pre IPO Promotor Holding | 71.80% |
| Post IPO Promotor Holding | 64.30% |
| DHRP Draft | Click Here |
| RHP Draft | Click Here |
| Anchor Investors List | Click Here |
Waaree Energies IPO Timelines
21/10/2024
Start Date23/10/2024
End Date25/10/2024
Refund Initiation25/10/2024
Credit of Shares to Demat Ac28/10/2024
Listing DateWaaree Energies IPO Lot Size
| Application | Lot Size | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 1 | 9 | ₹13,527 |
| Retail Maximum | 14 | 126 | ₹189,378 |
| S-HNI Minimum | 15 | 135 | ₹202,905 |
| S-HNI Maximum | 73 | 657 | ₹987,471 |
| B-HNI Minimum | 74 | 666 | ₹1,000,998 |
Waaree Energies IPO Subscription Status
| QIB | NII | Retail | EMP | Total |
|---|---|---|---|---|
| 215.03x | 65.25x | 11.27x | 5.45x | 79.44x |
IPO Performance on Listing Day
| Opening Price | Closing Price | Day High | Day Low |
|---|---|---|---|
| ₹2500 | ₹2338.90 | ₹2624.40 | ₹2300 |
Waaree Energies IPO Company Financials
| Year | Total Income | Total Expense | PAT |
|---|---|---|---|
| FY 2021 | ₹1,983.01 | ₹1,920.52 | ₹45.61 |
| FY 2022 | ₹2,945.85 | ₹2,827.48 | ₹79.65 |
| FY 2023 | ₹6,860.36 | ₹6,162.63 | ₹500.28 |
| FY 2024 | ₹11,632.76 | ₹10,239.90 | ₹1,274.38 |
| FY 2025 (3 M) | ₹3,496.41 | ₹2,965.88 | ₹401.13 |
About Company
Founded in December 1990, Waaree Energies Limited is a premier Indian manufacturer of solar photovoltaic (PV) modules, boasting an installed capacity of 12 GW. The company offers a diverse product range, including multicrystalline, monocrystalline, and TopCon modules.
As of June 30, 2023, Waaree operates four manufacturing facilities in Gujarat, covering 136.30 acres, with ISO certifications for quality and safety. Serving 373 domestic and 20 international clients, Waaree’s strengths include its leadership in the solar PV market, a robust order book, global accreditations, and a skilled workforce of 1,019 employees. The company focuses on expanding its capabilities while ensuring sustainable practices in the renewable energy sector.
| Incorporation Date | Sector | Managing Director |
|---|---|---|
| 1990 | Electricals | Hitesh Doshi |
Know Before Investing
Waaree Energies IPO Strengths
- Largest solar PV module manufacturer in India with 12 GW capacity.
- Strong financial performance with revenue growing at 99.83% CAGR.
- Diversified global customer base and robust order book of 16.66 GW.
- Extensive pan-India retail network with 369 franchisees as of 2024.
- ISO-certified advanced manufacturing facilities ensure global quality standards.
- A backward integration strategy enhances efficiency and reduces reliance on imports.
Waaree Energies IPO Risks
- Reliance on key customers; top 10 customers contribute 56.77% of revenue.
- Significant liquidated damages incurred: ₹1,724.27 million in FY24.
- High dependency on exports: 57.64% of revenue from export sales.
- The cost of imported materials from China accounts for 54.08%.
- Ongoing U.S. manufacturing expansion, estimated cost of $70 million.
- Financing uncertainties: outstanding borrowings of ₹12,701.91 million as of 2024.
Swot Analysis for Waaree Energies IPO
Strengths
Market leader position, Strong financial growth, High profit margins, Significant manufacturing capacity
Weaknesses
Limited product diversification
Opportunities
Growing renewable demand, Planned capacity expansion
Threats
Regulatory policy changes, Intense industry competition
Company Details
Waaree Energies Limited
602, 6th Floor, Western Edge I, Western Express Highway, Borivali (East), Mumbai -400066
Phone: +91 22 66444444
Email: [email protected]
Website: https://waaree.com/
IPO Registar Details
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: [email protected]
Website: https://linkintime.co.in/initial_offer/public-issues.html
FAQs
The key objectives of Waaree Energies IPO are:
- Part finance the cost of establishing the 6GW of Ingot Wafer, Solar Cell and Solar PV Module manufacturing facility in Odisha, India(“Project”).
- General corporate purposes.
Axis Capital Limited, Iifl Securities Ltd, Jefferies India Private Limited, Nomura Financial Advisory And Securities (India) Pvt Ltd, SBI Capital Markets Limited, Intensive Fiscal Services Private Limited, Iti Capital Ltd are the book-running lead managers for the Waaree Energies IPO.