Thu Oct 24 19:58:48 UTC 2024: Here are the key points from the article about Waaree Energies’ IPO:

1. **IPO Details**: Waaree Energies launched its initial public offering (IPO) on October 21 and closed it on October 23, targeting to raise ₹4,321.44 crore.

2. **Subscription Rate**: The IPO was highly successful, with overall subscription at 79.44 times. Retail investors subscribed 11.27 times, and Non-Institutional Investors (NIIs) subscribed 65.25 times.

3. **Share Allotment**: Allotment of shares will be finalized on October 24. Investors can check their allotment status via the registrar’s website.

4. **Listing Date**: Waaree Energies is expected to list its shares on October 28.

5. **Investor Participation**: Retail investors could bid a minimum of 9 shares at a price band of ₹1,427 to ₹1,503 per share.

6. **Company Performance**: Waaree Energies, India’s largest solar PV module manufacturer, has expanded its manufacturing capacity from 4 GW in FY22 to 12 GW by June 2024 and has recently set up a new 1.3 GW facility in Noida.

7. **Tech and Manufacturing**: The company uses various PV technologies, including multi-crystalline and advanced solutions like Tunnel Oxide Passivated Contact (TopCon) for enhancing module efficiency.

8. **Growth Strategy**: Waaree is pursuing backward integration to reduce dependence on imported solar cells, with new manufacturing facilities planned in Gujarat and Odisha.

9. **Market Demand**: The IPO attracted substantial interest, indicating strong demand in the renewable energy sector, supported by government initiatives promoting solar energy.

10. **Premium Subscription**: In the unofficial market, the shares are fetching a premium of 103%, suggesting positive investor sentiment.

These points summarize the key highlights and important information about Waaree Energies’ IPO and its operations.

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