Waaree Energies IPO: Waaree Energies Initial Public Offering (IPO) is in great demand in the grey market as the issue will open for public subscription on Monday, October 21. It will close on Wednesday, October 23. Axis Capital, IIFL Securities, Jefferies India, Nomura Financial Advisory & Securities (India), SBI Capital Markets, Intensive Fiscal Services, and ITI Capital are the book running lead managers to the issue. Link Intime India Private Limited is the registrar of the issue.

Waaree Energies IPO GMP Today Price

According to several websites that track grey market activity, the Waaree Energies IPO is trading at a strong premium in the range of Rs 1275-1350 per share. The grey market premium (GMP) of the IPO indicates listing benefits in the range of 84-90 percentfinalized over the upper band of the issue price. However, it is important to note that the grey market premium is only an indicator of how the company's shares are positioned in the unlisted market and can change rapidly.

Waaree Energies IPO Price Band

The price band for Waaree Energies IPO has been fixed at Rs 1427 to Rs 1503 per share. The minimum lot size for application is 9 shares and the minimum investment amount required by retail investors is Rs 13,527. The minimum lot size investment for SNII is 15 lots (135 shares) amounting to Rs 2,02,905 and for bNII it is 74 lots (666 shares) amounting to Rs 10,00,998.

Waaree Energies IPO Allotment, Listing Date

The issue of shares of Waaree Energies is expected to be finalised on Thursday, October 24, 2024. The tentative listing date of the IPO is Monday, October 28, 2024. The shares will be listed first on both the exchanges - NSE and BSE.

Waaree Energies IPO Objective

The Company proposes to use the net proceeds from the IPO to set up a 6 gigawatt (GW) manufacturing facility for ingots, wafers, solar cells, and PV modules in Odisha, as well as to support general corporate purposes.

About Waaree Energies

Waaree Energies is the largest manufacturer of solar PV modules in India, with a total installed capacity of 12 GW by June 2024.

Waaree Energies Financial Position

Waaree Energies' revenue from operations for FY24 grew 69 percent year-on-year (YoY) to Rs 11,398 crore, while profit after tax (PAT) more than doubled to Rs 1,274 crore.