Wed Oct 16 12:25:09 UTC 2024: ## Waaree Energies IPO to Hit the Market with Promising Returns

**New Delhi:** Waaree Energies Limited, the parent company of Waaree Renewable Technologies, is all set to launch its Initial Public Offering (IPO) on October 21st. The company, known for its solar panel manufacturing prowess, has a total installed capacity of 12 gigawatts as of June 2023 and focuses on PV module manufacturing.

The IPO, with a price band of ₹1427 – ₹1503 per share, is attracting significant attention due to its potential for high returns. Waaree Energies’ shares have been trading at ₹2,700 – ₹2,750 in the unlisted market, making the IPO price band a significant discount of 45%. This discount coupled with a robust grey market premium of ₹1,280, representing an 85% surge, indicates high investor confidence in the company’s performance.

The company plans to utilize the IPO proceeds to establish a 6GW ingot wafer, solar cell, and solar PV module manufacturing plant in Odisha.

**Key Highlights:**

* IPO Dates: Subscription opens on October 21st and closes on October 23rd. Anchor bidding starts on October 8th.
* Allotment: Scheduled for October 24th.
* Listing: Expected on October 28th on NSE and BSE.
* Total Issue Size: ₹4,321 crore (based on the upper price band).
* Market Cap: Estimated at ₹43,000 crore.

Waaree Energies has been a star performer in the renewable energy sector, boasting a 67,000% return in the past five years. The IPO is expected to further fuel its growth trajectory. With a strong track record and promising future prospects, Waaree Energies IPO is likely to be a popular choice for investors seeking exposure to the thriving solar energy market.

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