Waaree Energies IPO

Waaree Energies Ltd

₹12,843 /9 sharesMinimum Investment

Waaree Energies IPO Details

Bidding DatesMin. InvestmentLot SizePrice Range
21 Oct ‘24 - 23 Oct ‘24₹12,8439₹1,427 - ₹1,503
Issue SizeIPO Doc
4321.44Cr
RHP PDF

Subscription rate

As of 22 Oct'24, 06:00 PM
Qualified Institutional Buyers1.73x
Non-Institutional Investor24.36x
Retail Individual Investor6.38x
Employees3.1x
Total8.8x

About Waaree Energies

Waaree Energies is a manufacturer of solar photovoltaic (PV) modules based in India. The company’s product portfolio includes various types of PV modules, such as multicrystalline, monocrystalline, and TopCon modules, which include flexible, bifacial (Mono PERC), both framed and unframed, as well as building-integrated photovoltaic (BIPV) modules. Waaree Energies operates five manufacturing facilities across India. Four of these are located in Gujarat, at Surat, Tumb, Nandigram, and Chikhli. The company’s fifth unit – the IndoSolar facility – is in Noida.;
Founded in
1990
Managing director
Mr. Hitesh Chimanlal Doshi
Parent organisation
Waaree Energies Ltd
Waaree Energies Ltd IPO
https://www.youtube.com/watch?v=o9sJ9NtzLcc

Strengths & Financials of Waaree Energies

Strengths
Risks
Waaree Energies has substantially increased its total installed capacity from 4 GW in FY22 to 12 GW as of June 30, 2024.
The company claims to produce modules using advanced cell technologies, including multicrystalline, monocrystalline, and Tunnel Oxide Passivated Contact (TopCon).
The company's Tumb and Surat manufacturing facilities hold ISO 9001:2015 certificates for quality management systems for manufacturing, marketing, and supply of solar photovoltaic modules. The Tumb facility holds the ISO 45001:2018 certification for occupational health and safety management systems and the ISO 14001:2015 certification for environmental management systems for the same processes and installation. Similarly, the Chikhli Facility holds the ISO 45001:2018 certification for occupational health and safety management systems, the ISO 9001:2015 certification for quality management systems, and the ISO 14001:2015 certification for environmental management systems.
The Chikli facility has also received international recognition from UL Solutions, USA, which includes a CB scheme certificate for the mutual recognition of test certificates for electrical equipment, a certificate of compliance for UL standard safety for PV module safety, and compliance with BIS standard IS 14286: 2010 / IEC 61215:2005, IS/IEC 61730 (Part 1): 2004, and IS/IEC 61730 (Part 2) for its crystalline silicon terrestrial PV modules.
Some of Waaree Energies' laboratories are accredited by the National Accreditation Board for Testing and Calibration Laboratories (NABL) to conduct quality checks on the company’s solar PV modules.
The company has recorded a consistent rise in revenue from operations and profit after tax (PAT) over the last few years. Revenue from operations increased from Rs 2,854.26 crore in FY22 to Rs 6,750.87 crore in FY23 to Rs 11,397.61 crore in FY24, while PAT increased from Rs 79.65 crore in FY22 to Rs 500.28 crore in FY23 to Rs 1,274.38 crore in FY24.

Waaree Energies Financials

*All values are in Rs. Cr
No Graph Data To Display

Application Details of Waaree Energies IPO

Apply asPrice bandApply upto
Regular1427 - 1503₹2 Lakh
Employee1427 - 1503₹2 Lakh
High Networth Individual1427 - 1503₹2 - 5 Lakh
For Waaree Energies IPO, eligible investors can apply as Regular & Employee.
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