Waaree Energies IPO Highlights
Waaree Energies Ltd, is going to launch its IPO. Its opening date is October 21st , 2024 and it will close on October 23rd , 2024. This is going to be a book built issue. Through its first public offering (IPO), the company aims to collect about ₹4321.44 crores. The IPO will be a mix of a fresh issue worth ₹3600 crores and an offer for sale of shares amounting to ₹721.44 crores. The face value of equity share is Rs 10 each share. The price band of Waaree Energies IPO is between ₹1427 to ₹1503.
Waaree Energies IPO Detail
| IPO Opening and Closing Date | October 8, 2024 to October 10,2024 |
| IPO Price Range | Rs 1427 to Rs 1503 Per Share |
| Face Value of Share | Rs 10 Per Share |
| Net Issue Size Offered | 28752095 Shares amounting to ₹ 4321.44 Crores |
| Fresh Issue | 9232955 Shares amounting to ₹3600.00 Crores |
| Offer For Sale | 4800000 equity shares amounting up to ₹721.44 Crores |
| Listing at | BSE & NSE |
| Issue Type | Book Built Issue IPO |
| IPO DRHP | Click Here |
| IPO RHP | Click Here |
Waaree Energies IPO, Tentative Date Schedule
| IPO Opening Date | Monday, October 21, 2024 |
| IPO Closing Date | Wednesday, October 23, 2024 |
| Allotment Date | Thursday, October 24, 2024 |
| Refund Initiation | Friday, October 25, 2024 |
| Credit of Shares in Demat Account | Friday, October 25, 2024 |
| Listing Date | Monday, October 28, 2024 |
The Waaree EnergiesIPO will open on October 21, 2024 and it will close on October 23, 2024. The allotment for Waaree EnergiesIPO will be finalised on Thursday, October 24, 2024. The listing date of Waaree Energies IPO on both BSE as well as NSE is fixed as Monday, October 28, 2024.
Waaree Energies IPO GMP Today
Waaree Energies IPO GMP today is ₹ 1510 as of 20 October 2024.
Waaree Energies IPO Financials
| Period | 30 June, 2024 | 31 March, 2024 | 31 March, 2023 | 31 March, 2022 |
| Total Assets | ₹11989.48 | ₹11313.73 | ₹7419.92 | ₹2237.4 |
| Total Revenue | ₹3496.41 | ₹11632.76 | ₹6860.36 | 2945.85 |
| Expense | 2965.88 | 10239.90 | 6162.63 | 2827.48 |
| Profit After Tax | ₹401.13 | ₹1274.38 | ₹500.28 | ₹79.65 |
| Company’s Net Worth | ₹4471.71 | ₹4074.84 | ₹1826.02 | ₹427.13 |
| Total Reserve & Surplus | ₹2464.69 | ₹3825 | ₹585.96 | ₹230.43 |
Company Financial Performance Indicators
| Key Performance Indicators | Value |
| ROCE | 9.45% |
| ROE | 8.79% |
| Price to Book Value | 8.84 |
| Return on Net Worth | 8.81% |
| Debt Equity Ratio | 0.06 |
| After Tax Profit Margin (%) | 11.47% |
Waaree Energies IPO Lot Size for Different Category of Investors:
| Application | Lot | Number of Shares | Amount (in ₹) |
| Retail Investor (Min. Lot) | 1 | 9 | ₹13527 |
| Retail Investor (Max Lot) | 14 | 126 | ₹189378 |
| Small HNI (Min. Lot) | 15 | 135 | ₹202905 |
| Small HNI (Max. Lot) | 73 | 657 | ₹987471 |
| Big HNI (Min. Lot) | 74 | 666 | ₹1000998 |
Retail investors are eligible to submit bids for a minimum of one lot, containing 9 shares, amounting to ₹13527. On the other hand small HNI can apply for minimum of 15 lots comprising of 135 shares amounting to ₹202905. The maximum limit for applying in this IPO for small HNI is 73 lot comprising of 657 shares amounting to ₹987471.
Investors Reserve Quota for Different Category of Investors
| Shares Reserved for Institutional Investors (QIB) | 50% of the Total Issue |
| Shares Reserved for Retail Individual Investors | 35% of the Total Issue |
| Shares Reserved for Non Institutional Investors (HNI) | 15% of the Total Issue |
Cash flow Generated by the Company
| Net Cash Flow | June 30, 2024 | June 30, 2023 | Financial Year, 2024 |
| Cash From Operating Activities | ₹4582.02 | ₹6473.18 | ₹23050.21 |
| Cash from Investing Activities | ₹-2978.81 | ₹-12645.68 | ₹33402.52 |
| Cash From Financing Activities | ₹-928.85 | ₹4645.79 | ₹9091.82 |
Segment Based Revenue Generation
| Particular | Financial Year 2024 | Financial Year, 2023 | Financial Year, 2022 |
| Revenue from Direct Sales to Utilities and Enterprises | 35814.16 | 13168.13 | 15963.38 |
| Revenue from Export Sales | 65690.96 | 46165.39 | 6578.22 |
| Revenue from Retail Sales | 11570.82 | 6724.90 | 5825.23 |
| Other Revenue from Operations | 900.16 | 1450.31 | 175.82 |
| Total | 113976.09 | 67508.73 | 28542.65 |
Waaree Energies IPO Objectives
- General Corporate Purposes
- To meet some outstanding loans
- To prepayment of some outstanding borrowings.
- Working Capital Requirements
Waaree Energies IPO Peer Group Comparative Analysis:
| Company | EPS (₹) | P/E | Face Value (₹) |
| Websole Energies System Ltd | -29.99 | N/A | 10 |
| Premier Energies Ltd | 6.93 | 151.13 | 10 |
Average PE Ratio of Industry
| P/E Ratio Metrics | P/E Ratio |
| Highest P/E Ratio | 151.13 |
| Lowest P/E Ratio | 151.13 |
| Average P/E Ratio | 151.13 |
Waaree Energies IPO Strengths and Weaknesses
Strengths:
- Waaree Energies is the largest solar PV module manufacturer in India, with a significant installed capacity of 12 GW by June 30, 2024.
- Serving clients across both India and international markets
- The company is installed the most state of the art modern and advanced, globally accredited manufacturing plants, which strengthen the reliability and quality of its products.
- broad network of retail outlets across India,
- The company has consistently delivered solid financial results.
Weaknesses
- Ongoing legal disputes and unresolved statutory dues
- Challenges in recovering payments from certain customers
- The company may need substantial investment to keep pace and maintain competitiveness.
Management & Promoter Group of Waaree Energies Ltd
- Waaree Sustainable Finance Private Limited
- Hitesh Chimanlal Doshi
- Viren Chimanlal Doshi
- Pankaj Chimanlal Doshi
| Promoters Shareholding Pre- Issue | 71.80% |
| Promoters Shareholding Post- Issue | 64.30% |
Company’s Dividend Policy
No dividend has been paid by the company from last three financial years
Lead Managers of Waaree Energies IPO
- Jefferies India Private Limited
- Intensive Fiscal Services Private Limited
- IIFL Securities Limited
- ITI Capital Limited
- Axis Capital Limited
- SBI Capital Markets Limited
- Nomura Financial Advisory and Securities (India) Private Limited
Registrar of Waaree Energies IPO
Link In time India Pvt Ltd
Phone: +91-022-49186270
Email: waaree.ipo@linkintime.co.in
Website: www.linkintime.co.in
Contact Details of Company
Waaree Energies Ltd.
602, 6th Floor, Western Edge-I, Western Express Highway
Borivali (East), Mumbai 400066,
Maharashtra, India
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Note: This article is based on the information received from the company’s official documents, including the Draft Red Herring Prospectus (DRHP) and Red Herring Prospectus (RHP). For up-to-date information on the Grey Market Premium (GMP) for the Nisus Finance Services IPO, you may please check our Current GMP, where we will post the latest figures as soon as they are available.
Disclaimer: This article is for educational purposes only. We do not offer any advice on buying or selling securities. Please consult your financial advisor before investing in an IPO or any other securities to make sure that it suits your financial plans and risk tolerance.
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