The much-anticipated Waaree Energies Limited IPO has sparked excitement among investors. This article provides a comprehensive overview of the Waaree Energies IPO price band, subscription dates, share allocation, and other critical details. As one of the leading names in the solar energy sector, Waaree Energies’ IPO listing on the BSE and NSE has captured attention with its attractive valuations and future growth potential.
Waaree Energies IPO Price Band and Lot Size
The price band for Waaree Energies IPO has been set between ₹1,427 to ₹1,503 per equity share of a face value of ₹10 each. This range highlights the company’s premium positioning in the renewable energy market.
- Floor Price: ₹1,427 (142.70 times the face value)
- Cap Price: ₹1,503 (150.30 times the face value)
Investors can bid in multiples of the lot size, which has been set at 9 shares per lot. This means the minimum investment required will be approximately ₹12,843 at the lower price band and ₹13,527 at the upper limit.
Waaree Energies IPO Subscription Dates
- IPO Opens: Monday, October 21, 2024
- IPO Closes: Wednesday, October 23, 2024
- Anchor Investor Allocation: Friday, October 18, 2024
Retail and institutional investors are advised to act promptly as the subscription window is limited to three days.
Reservation Details for Investors
Waaree Energies has allocated shares across several categories:
- Qualified Institutional Buyers (QIB): Up to 50% of the total offer
- Non-Institutional Investors (NII): Minimum of 15%
- Retail Investors: At least 35% of the offer
- Employee Reservation: Up to 650 million shares
This diversified allocation ensures equal participation from retail investors, institutions, and employees alike, promoting broad-based investment.
Allotment and Refund Schedule
The basis of allotment for Waaree Energies IPO will be finalized on Thursday, October 24, 2024. Here is a breakdown of the key post-subscription events:
- Refunds Process Initiation: Friday, October 25, 2024
- Credit of Shares to Demat Accounts: Friday, October 25, 2024
- Listing on BSE and NSE: Monday, October 28, 2024
Investors will have the option to trade these shares on both BSE and NSE platforms post-listing, giving them access to wider liquidity.
About Waaree Energies Limited
Founded in December 1990, Waaree Energies Limited has emerged as a significant player in the renewable energy space, particularly in solar energy solutions. The company currently operates with a combined installed solar PV capacity of 12 GW, making it one of the largest manufacturers of solar PV modules in India.
Waaree Energies offers a broad range of products tailored to meet diverse energy needs:
- Multicrystalline Modules: Widely used in large-scale solar installations.
- Monocrystalline Modules: High-efficiency modules suitable for space-constrained environments.
- TopCon Modules: Known for enhanced performance and durability, including flexible bifacial (Mono PERC) options.
- Building-Integrated Photovoltaic (BIPV) Modules: Ideal for architectural integration, available in both framed and unframed variants.
Growth Potential and Market Position
As the world shifts towards renewable energy solutions, Waaree Energies is well-positioned to capture market share with its high-quality solar products and extensive operational capabilities. Its large-scale manufacturing capacity and continuous innovation in solar technology provide a strategic edge over competitors.
The IPO funds will help Waaree Energies expand its manufacturing facilities and invest in research and development for next-gen solar modules. With government policies favoring renewable energy, the company’s future outlook remains robust.
Key Risks and Considerations
Though the IPO offers promising prospects, investors should consider the following risks:
- Market Volatility: Share prices in the renewable sector can be affected by external market trends.
- Regulatory Risks: Policy changes in renewable energy tariffs and subsidies may impact profitability.
- Competition: Increased competition in the solar energy market could pressure margins.
Despite these risks, Waaree Energies’ strong market reputation and strategic expansion plans make it an attractive investment for long-term investors.
How to Apply for Waaree Energies IPO
Investors can apply for the IPO through:
- UPI-based ASBA (Application Supported by Blocked Amount)
- Net Banking through their Demat account provider
Make sure to follow these steps:
- Login to your brokerage platform.
- Select Waaree Energies IPO from the available options.
- Enter bid quantity (in multiples of 9 shares).
- Approve payment via UPI or ASBA.
Ensure to place your bids before October 23, 2024, to avoid missing out on this opportunity.
Conclusion
The Waaree Energies IPO presents a unique opportunity for investors to tap into the booming solar energy sector. With a competitive price band between ₹1,427 to ₹1,503 per share, a proven track record, and ambitious expansion plans, the company is well-positioned for growth. Retail investors, institutional buyers, and employees alike are set to benefit from the broad-based reservation and the company’s promising outlook.
The listing on October 28, 2024, will be closely watched, as it marks a significant milestone for both Waaree Energies and India’s renewable energy market.
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