Waaree Energies Ltd., the top producer of solar panels in India, made a spectacular debut on the stock exchanges on Monday, October 28, when its shares started at a premium of 66%. However, because its shares were launched at a 1.5% discount, Deepak Builders and Engineers had a poor beginning. Through its initial public offering (IPO), which included a new issue of shares valued at ₹3,600 crore and an offer-for-sale part of ₹721.44 crore, Waaree Energies raised ₹4,321.44 crore from public investors.
Through its initial public offering (IPO), which included a new issue of shares valued at ₹3,600 crore and an offer-for-sale part of ₹721.44 crore, Waaree Energies raised ₹4,321.44 crore from public investors. Waaree Energies shares were listed on the NSE at ₹2,500 each, which is 66.3% more than their issue price of ₹1,503 a share, according to stock exchange data. The company’s shares debuted on the BSE at a premium of 69.6%, at ₹2,550 per share.
Waaree IPO Details
An offer to sell 0.48 crore shares, totaling ₹721.44 crore, and a new issue of 2.4 crore shares, valued at ₹3,600 crore, comprised Waaree Energies’ first public offering. Anchor investors contributed ₹1,276.93 crore to the company on October 18. Nine shares was the minimum lot size for an application, and individual investors had to invest a minimum of ₹13,527. In the Waaree Energies IPO, QIBs were given up to 20% of the offer, NIIs were given up to 15%, and retail investors were given up to 35%. Employees were given 1.5% of the deal, while anchor investors might receive up to 30%.
About the Company -Waaree Energies
Waaree Energies, which was founded in 1989, manufactures solar panels and offers comprehensive solar EPC solutions. It has completed more than GW of solar EPC projects. It offers a variety of cutting-edge goods, such as solar inverters, 400MWh lithium-ion batteries for energy storage, solar thermal, and solar and industrial cables. The company also wants to manufacture cells and become a vertically integrated business. It recently expanded to 5.4 GW of cell manufacture after acquiring Indosolar. Solar roofing and solar water pumping solutions are among its prominent offerings.
