Sun Oct 27 06:59:14 UTC 2024: ## Waaree Energies IPO Over-Subscribed 79 Times, Set to List on October 28
**Mumbai, India** – The initial public offering (IPO) of Waaree Energies, India’s largest solar PV module manufacturer, has been met with overwhelming enthusiasm from investors. The IPO, which closed on October 23, was oversubscribed 79.44 times, with strong demand across all investor categories.
Qualified Institutional Buyers (QIBs) subscribed 215.03 times, Non-Institutional Investors (NIIs) at 65.25 times, and retail investors at 11.27 times. The strong subscription rate reflects investor optimism about the company’s future prospects, particularly in the booming solar energy sector.
The IPO was priced between Rs 1,427 and Rs 1,503 per share and aimed to raise Rs 4,321.44 crore. The company is set to list on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on October 28.
Waaree Energies is a leading player in the solar energy sector, with a focus on providing quality and cost-effective solutions. The company has a strong track record of growth, with revenue, EBITDA, and PAT recording a CAGR of 55%, 103%, and 139% respectively during FY20-24.
The company’s impressive performance and the significant growth potential of the solar industry have attracted strong investor interest. The strong GMP (Grey Market Premium) further indicates investor confidence in the company’s post-listing performance.
Waaree Energies has five manufacturing facilities across India, covering a total area of 143.01 acres. These facilities are situated in Gujarat and Uttar Pradesh, providing a strong base for the company’s future growth.
Investors can check their allotment status on the website of the registrar, Link Intime India Private Ltd.
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