Mon Oct 21 08:20:42 UTC 2024: **Summary of Waaree Energies IPO News Article:**

– **IPO Details**: Waaree Energies is launching an IPO comprising a fresh issue of shares worth ₹3,600 crore and an offer for sale (OFS) of 48 lakh shares valued at ₹721.44 crore.
– **Price Range**: Shares are priced between ₹1,427 and ₹1,503 each, with the offering set to close on October 23, 2024.
– **Investor Response**: The IPO has garnered significant interest, being fully subscribed within hours of bidding commencement, with bids exceeding available shares by 1.47 times.
– **Bidding Details**: As of October 21, the non-institutional investor segment was oversubscribed by 3.17 times, while retail investors’ quota was subscribed by 1.61 times.
– **OFS Participants**: The OFS includes shares sold by promoter Waaree Sustainable Finance Private Limited and shareholder Chandurkar Investments Pvt Ltd.
– **Anchor Round Investment**: Prior to the IPO, Waaree Energies raised ₹1,277 crore from prominent investors such as Goldman Sachs and Morgan Stanley.
– **Utilization of Proceeds**: The funds raised will be used to establish a 6-gigawatt solar manufacturing facility in Odisha and for general corporate purposes.
– **Company Background**: Waaree Energies is a major player in the solar industry, focusing on photovoltaic (PV) module manufacturing, with an installed capacity of 12 GW across five manufacturing plants.
– **Lead Managers**: Key book-running lead managers for the IPO include IIFL Securities, Jefferies India, and Axis Capital.

This reflects the company’s growth strategy and investor confidence in the renewable energy sector.

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