Waaree Energies to launch Rs 36 billion IPO
Author: PPD Team Date: October 17, 2024
Waaree Energies has announced its initial public offering (IPO), set to launch on October 21, 2024. The anchor investor bidding will open on October 18, and the offer will close on October 23.
The IPO includes 4.8 million equity shares with a total value of Rs 36 billion. The price band is set between Rs 1,427 and Rs 1,503 per share, with a minimum bid of 9 shares.
Waaree Sustainable Finance Private Limited will offer 4.35 million shares, while Chandurkar Investments Private Limited will sell 0.45 million shares.
A portion of the shares is reserved for employees, and over 15% of the net offer is allocated to non-institutional bidders. The shares will be listed on the BSE and NSE. The lead managers for the IPO are Axis Capital, IIFL Securities, Jefferies India, Nomura, SBI Capital, Intensive Fiscal Services, and ITI Capital.
In August 2024, Waaree Energies secured a 90 MW order to supply bifacial solar modules to Juniper Green Cosmic for a project in Bikaner, Rajasthan.
