Waaree Energies IPO to Open for Subscription on Oct 21, Price Band Set at INR 1427-1503 Per Share
Waaree Energies Ltd. has announced the price band for its IPO, set between INR 1,427 and INR 1,503 per share, aiming to raise INR 4,321 crore to fund a new 6 GW solar manufacturing facility and general corporate purposes.
October 16, 2024. By Mrinmoy Dey
Investors can bid in lots of nine shares, with multiples thereafter. Institutional investors will be allocated 50 percent of the issue, non-institutional investors 15 percent, and retail investors 35 percent.
The company aims to raise INR 4,321 crore at the upper band, comprising a INR 3,600 crore fresh issue and an Offer for Sale (OFS) of 48 lakh shares by Waaree Sustainable Finance and Chandurkar Investments.
The funds raised will be used to set up a 6 GW solar manufacturing facility in Odisha and for general corporate purposes.
With a current installed capacity of 12 GW as of June 2023, Waaree Energies operates five manufacturing facilities across Surat, Tumb, Nandigram, Chikhli in Gujarat, and the IndoSolar Facility in Noida, Uttar Pradesh.
The IPO is being managed by Axis Capital, IIFL Securities, Jefferies India, Nomura Financial Advisory and Securities (India), SBI Capital Markets, Intensive Fiscal Services, and ITI Capital.
please contact: contact@energetica-india.net.
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