Waaree Energies IPO 2024 Live: Waaree Energies IPO Allotment today; Check GMP, listing date, IPO subscription status and other details

Waaree Energies IPO Live: The allotment of shares will be finalised on October 24. Investors can check the allotment status on the website of registrar of the issue. Waree Energies aimed to raise Rs 4,321.44 crore. It received bids worth Rs 2.42 crore. The retail buyers booked the issue 11.27 times while the NIIs subscribed to the IPO 65.25 times. The IPO was subscribed to a total of 79.44 times. 

Waaree Energies IPO was launched on October 21 and ended on October 23. The company is likely to list on October 28. Axis Capital, IIFL Securities, Jefferies India, Nomura Financial Advisory And Securities (India), SBI Capital Markets, Intensive Fiscal Services and ITI Capital were the book-running lead managers of the IPO. Catch all the live updates on Waaree Energies on out live blog.

Waaree Energies IPO 2024 Live Updates GMP: QIBs booked issue 215.03 times

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20:08 (IST) 24 Oct 2024

Waaree Energies IPO 2024 Live Updates: Expected Listing Date

The company is expected to list its shares on the stock exchange (D-Street) on October 28. Investors can anticipate the market response to the stock on the listing date, following the impressive subscription rate.

19:05 (IST) 24 Oct 2024

Waaree Energies IPO 2024 Live Updates: Subscription Overview and IPO Details

Waaree Energies aimed to raise Rs 4,321.44 crore through its IPO, which received bids worth Rs 2.42 crore. The overall subscription stood at 79.44 times, with retail buyers subscribing 11.27 times and Non-Institutional Investors (NIIs) subscribing 65.25 times.

18:38 (IST) 24 Oct 2024

Waaree Energies IPO 2024 Live Updates: Allotment Finalisation

The allotment of shares will be finalized on October 24, and investors can check the allotment status through the registrar’s website. The IPO opened on October 21 and closed on October 23, with strong demand across all segments.

18:05 (IST) 24 Oct 2024

Waaree Energies IPO 2024 Live Updates: IPO details

The IPO opened on October 21 and closed on October 23. The IPo raised Rs 4,321.44 crore from investors. There were two components in the issue: sale of fresh shares and an OFS. The allotment was finalised on October 24.

17:33 (IST) 24 Oct 2024

Waaree Energies IPO 2024 Live Updates: Waaree Energies subscribed fully on day 1 itself

The IPO was fully subscribed on day 1 itself. The issue was subscribed to a total of 3.32 times. The QIBs booked the issue 0.08 times. The NIIs subscribed the issue 8.09 times. The retailers subscribed the issue 3.17 times. The employee’s booked the subscription 1.57 times.

17:24 (IST) 24 Oct 2024

Waaree Energies IPO 2024 Live Updates: Waaree Energies listing likely next week

Next week is the Diwali week for the markets. All eyes are on the listing date for Waaree Energies. It is likely to be listed on October 29

17:23 (IST) 24 Oct 2024

Waaree Energies IPO 2024 Live Updates: Waaree Energies' customer base

In terms of customer reach, Waaree Energies served 1,381 customers in India and 31 customers abroad as of March 31, 2021. These numbers were 716 and 26 for 2022, 566 and 33 for 2023, and 373 and 20 as of June 30, 2023, respectively.

14:57 (IST) 24 Oct 2024

Waaree Energies IPO 2024 Live Updates: GMP update

Waaree Energies were fetching a premium of 103% in the unofficial market. It indicates a double-digit gain on the day of listing.

14:23 (IST) 24 Oct 2024

Waaree Energies IPO 2024 Live Updates: Anand Rathi Research on Deepak Builders IPO

“With a strong order book, Deepak Builders has a growth potential visibility in the infrastructure sector which aligns them with government initiatives. At the upper price band company is valuing at a P/E of 15.6x with a market cap of Rs 9,455 million post-issue of equity shares and a return on net worth of 52.9%. On the valuation front, we believe that the company is fairly priced. Thus, we recommend a “Subscribe” rating to the IPO,” said Anand Rathi Research on Deepak Builders & Engineers.

14:03 (IST) 24 Oct 2024

Waaree Energies IPO 2024 Live Updates: smallcase Manager's take on Waaree Energies

“We are proud of Waaree’s remarkable journey where they built the largest solar business in the world (ex of China) despite intense competition. This was achieved on the back of a healthy order book and significant capacity expansion. Through this IPO, they plan to further backward integrate their operations and enter new segments which would fortify and diversify their position for continued growth,” said Arvind Kothari of smallcase Manager.

13:13 (IST) 24 Oct 2024

Waaree Energies IPO 2024 Live Updates: About Waaree Energies

Waaree Energies Limited (“WEL”) was founded in 1990. It is India’s largest manufacturer of solar PV modules with the largest aggregate installed capacity of 12 GW, as of June 30 . WEL commenced operations in 2007 focusing on solar PV module manufacturing with an aim to provide quality, cost-effective sustainable energy solutions across markets, and aid in reducing carbon foot-print paving the way for sustainable energy thereby improving quality of life. WEL has four solar module manufacturing facilities in India, with international presence.

12:48 (IST) 24 Oct 2024

Waaree Energies IPO 2024 Live Updates: IPO details

The company raised Rs 4,321.44 crore via a combination of fresh shares and an offer for sale. The company’s IPO price band ranged between Rs 1,427 to Rs 1,503 per equity share. A retail buyer had to apply for a minimum of 9 shares and then in its multiple, which amounted to Rs 13,527 per equity share. 

12:30 (IST) 24 Oct 2024

Waaree Energies IPO 2024 Live Updates: Waaree Energies allotment to finalise today

The share allotment will be finalised on October 24. The allotment status can be checked on the website of the registrar. The IPO is likely to hit the D-Street on October 28. The IPO was opened on October 21 and ended on October 23.

11:53 (IST) 24 Oct 2024

Waaree Energies IPO 2024 Live Updates: Waaree Energies' capacity expansion

“Waaree is setting up a 11.4GW integrated manufacturing facility, of which 5.4GW solar cell will be operational by 3QFY25F at Chikhli in Gujarat and a 6GW fully integrated manufacturing facility in Odisha to produce ingots, wafers, and solar cells by FY27F. This state-of-the-art facility will produce solar cells and modules utilizing advanced PV technologies designed for high-efficiency, large-sized PV silicon wafers. The company has recently been awarded orders worth Rs19bn under the PLI scheme,” said InCred Equities on Waaree Energies in an IPO note.

11:25 (IST) 24 Oct 2024

Waaree Energies IPO 2024 Live Updates: Anand Rathi on Waaree Energies

“Waaree Energies remains committed to investing in and prioritising the Indian market while actively pursuing growth in export sales, with a strong emphasis on the US, a vital player in the global market. With the concept of solar rooftops gaining prominence, further accelerated by the Government of India‘s push, including incentive schemes, the Indian solar module market has received a significant boost. WEL, being one of the prominent players, has witnessed 32% CAGR growth in its retail sales over FY21 to FY23. The strong growth in the retail sales follows WEL strategy of building a pan-India network of franchisees providing extensive coverage across metros, large cities, towns, and rural areas, ensuring timely and high-quality service for customers,” said Anand Rathi Research in an IPO note.

11:07 (IST) 24 Oct 2024

Waaree Energies IPO 2024 Live Updates: Waaree Energies capacity update

The company has significantly expanded its capacity from 4 GW in FY22 to 12 GW by June 2024, demonstrating its efficiency in executing expansion plans. Post-June 2024, WEL commissioned an additional 1.3 GW solar module manufacturing facility in Noida, Uttar Pradesh, through its subsidiary, IndoSolar Limited. WEL manufactures PV modules using multi-crystalline, mono-crystalline, and emerging technologies like Tunnel Oxide Passivated Contact (TopCon), which enhance efficiency and reduce energy loss.

10:48 (IST) 24 Oct 2024

Waaree Energies IPO 2024 Live Updates: Choice Broking's views on Waaree Energies

“In order to reduce its dependency on imported solar cell and third-party supplier in India, the company’s strategy of backward integration includes manufacturing its own solar cell which will be utilized for captive consumption towards the manufacturing of its solar PV modules, resulting in increased profit margins. Thus, we recommend a “Subscribe” rating for this issue,” said Choice Broking in a research note.

10:31 (IST) 24 Oct 2024

Waaree Energies IPO 2024 Live Updates: Waaree Energies' Factories

The company operates 5 manufacturing facilities in India spread over an area of 143.01 acres. The company operates 1 factory each located at Surat, Tumb, Nandigram, and Chikhli in Gujarat, India and the IndoSolar Facility, in Noida, Uttar Pradesh.

10:21 (IST) 24 Oct 2024

Waaree Energies IPO 2024 Live Updates: Industry Tailwinds

“With solar energy emerging as a key global theme in the transition towards renewable energy, the company is poised to capitalize on the growing opportunity led by its strong track record, leading market share, strong financials, and continued focus on innovation and sustainability,” said InCred Equities in a research note. Government initiatives, such as PM-KUSUM, Rooftop Phase-II, and Atmanirbhar Bharat, highlight India’s commitment to promoting green energy. Supportive policies, including subsidies, PLI scheme, and customs duty exemption on solar components are actively attracting investment and propelling growth in the renewable energy sector.

09:33 (IST) 24 Oct 2024

Waaree Energies IPO 2024 Live Updates: Allotment today

The allotment of shares will be finalised on October 24. The allotment status of the issue can be checked on the registrar’s website. The IPO was ended on October 23. It was subscribed to a total of 79.44 times.