Wed Oct 16 09:05:07 UTC 2024: ## Waaree Energies IPO: Solar Giant Eyes ₹3600 Crore Listing

**Mumbai, India:** Waaree Energies Limited, India’s largest solar module manufacturer and exporter, has announced the price band for its upcoming Initial Public Offering (IPO). The company aims to raise ₹3600 crore through the issuance of 2.4 crore new shares, with an additional 48 lakh shares offered for sale by existing investors and promoters.

The IPO will open on October 21st, 2024, and close on October 23rd, with the price band set at ₹1427-₹1503 per share. The company expects strong demand for its IPO, with a grey market premium (GMP) of 85%, indicating potential listing gains.

**Key Highlights:**

* **IPO Size:** ₹4321.44 crore
* **Price Band:** ₹1427-₹1503 per share
* **Listing Date:** October 28th, 2024
* **GMP:** ₹1300, implying a potential listing price of around ₹2800 per share

Established in 1990, Waaree Energies has a solar module manufacturing capacity of 12 gigawatts. In FY2023-24, the company reported revenue of ₹11632.76 crore and a profit of ₹1274.38 crore.

Axis Capital Limited, IIFL Securities, Jefferies India, and Nomura are the book running lead managers for the IPO.

**Investor Takeaway:**

The Waaree Energies IPO offers investors an opportunity to participate in the growth of India’s solar energy sector. The company’s strong financial performance and large-scale operations make it an attractive investment opportunity. However, investors should conduct thorough research and consider their risk appetite before making an investment decision.

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