Let’s have a detailed review of the company and analytics of the Waaree Energies IPO release date, IPO offer price, subscription, Waaree Energies Limited IPO allotment, grey market price, and other details like the company’s background, its financial positions, its promoters, and other related things.

Face ValueRs 10
Price BandRs [●]
Listing AtBSE, NSE
Min. Order QuantityNA
Listing DateNA
Offer for SaleRs Million
Fresh IssueRs 13,500 Million
IPO SizeRs Million
Tick Size1

Waaree Energies IPO is listed at a [●] premium. Check out the live share price by clicking on the below link.


Waaree Energies IPO – Summary

Waaree Energies IPOTheir vision is to provide quality, cost-effective sustainable energy solutions across markets, and aid in reducing carbon footprint paving way for sustainable energy thereby improving quality of life. They are one of the major players in the solar energy industry in India focused on PV module manufacturing, with an aggregate installed capacity of 2 GW as of March 31, 2021.

As of August 31, 2021, based on their aggregate installed capacity, they had a market share of 24% out of total enlisted capacity as per the Approved List of Models and Manufacturers (ALMM) for solar PV module manufacturing in India.

The Promoter of this company is HITESH CHIMANLAL DOSHI, VIRENKUMAR CHIMANLAL DOSHI AND MAHAVIR THERMOEQUIP PRIVATE LIMITED. The lead manager to the issue is Axis Capital Limited, HSBC Securities and Capital Markets (India) Private Limited, ICICI Securities Limited, and Intensive Fiscal Services Private Limited, and the Registrar to this issue is Link Intime India Private Limited.


Waaree Energies IPO Date

The opening and the closing date of Waaree Energies IPO are not available yet.

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Waaree Energies IPO GMP
Allotment – Waaree Energies IPO

Waaree Energies IPO Subscription

Day / DateQIBNIIRIITotal Subscription
1st Day – 
2nd Day –  
3rd Day – 
Shares Offered or Net Issue

The shares subscribed by the public will be updated here.

Check Waaree Energies IPO LIVE Subscription

  • Waaree Energies IPO LIVE Bid details on BSE
  • Waaree Energies IPO LIVE Bid details on NSE

For the Latest Bid details click on the above links.


Waaree Energies IPO Allotment Status

Here, you can find the Allotment Status of this IPO.

Allotment of Equity Shares pursuant to the Fresh Issue and transfer of the Offered Shares of the Promoter Selling Shareholders pursuant to the Offer for Sale to the successful Bidders. However, the Allotment Status is not yet disclosed.

Waaree Energies Limited IPO Listing Date

Find the dates below on basis of allotment, refund, listing, and more:

Basis of Allotment Finalization
Refunds Initiation
Credit of Shares to Demat Account
Share Listing Date

Waaree Energies IPO Price Band

The face value of each share is Rs.10, but the price band of the IPO is Rs.[●] 


Waaree Energies IPO Size

This Initial Public Issue of X Equity Shares of Rs.10 each for cash at a price of Rs.[●]  per equity share aggregating to Rs.[●] Million.


Waaree Energies IPO Share Offering

Fresh Issue: The Issue (excluding the Market Maker Reservation Portion) of [●] Equity Shares of Rs.10/ each.

Issue Size: X Equity Shares of Rs.10 each, aggregating to Rs.[●] Million


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    Waaree Energies IPO – Live Performance

    The listing date of this IPO is [●]. You can check the live performance of the IPO here, only after it is listed on exchanges.

    Live IPO Performance – Waaree Energies Share Price

    Waaree Energies IPO Grey Market Premium

    The Waaree Energies Limited IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is X. 


    Waaree Energies IPO – Company Overview

    They currently operate three manufacturing facilities comprising four factories in India: at Surat (“Surat Facility”), Tumb (“Tumb Facility”), and Nandigram (“Nandigram Facility”) in Gujarat, India.

    They are also in the process of setting up another manufacturing facility at Chikhli (“Chikhli Facility”) in Gujarat, India where they are implementing their capacity expansion plans for PV modules as well as setting up facilities for backward integration into solar cell manufacturing.

    The addition of 3 GW PV module manufacturing capacity to their existing 2 GW capacity, is expected to be operational by the end of Fiscal 2022, and the 4 GW solar cell manufacturing capacity is expected to be operational by the end of Fiscal 2023.

    They have over the years developed a track record of manufacturing quality and technologically advanced PV modules, involving trained and skilled manpower and work practices focused on innovation, and an in-house project management team. They intend to follow an expansion strategy of executing regular capacity additions.


    Waaree Energies IPO – Financial Statements

    A quick look into the past financial performance of the company to understand its performance of the business and evaluate the growth prospectus:

    Financial Summary:

    Amount (in INR & Million)
    31-Mar-2131-Mar-20Mar-19
    Total Assets12,805.219,382.658,186.30
    *Total Revenue19,933.7020,213.1216,127.31
    Total Expense19,275.2219,643.7215,471.81
    Profit After Tax481.90390.21823.40

    Earnings per Equity Share (in Million)

    31-Mar-2131-Mar-20Mar-19
    Basic & Diluted2.502.124.18

     

    Further, their PAT for the period ended on March 31, 2021, March 31, 2020, and March 31, 2019, were Rs. 481.90 Million, Rs. 390.21 Million, and Rs. 823.40 Million respectively.


    Waaree Energies IPO – Promoters

    The Promoter of this company is:

    1. HITESH CHIMANLAL DOSHI
    2. VIRENKUMAR CHIMANLAL DOSHI
    3. MAHAVIR THERMOEQUIP PRIVATE LIMITED

    List of Related Parties (Key Managerial Personnel)

    • Hitesh Chimanlal Doshi, Chairman and Managing Director
    • Virenkumar Chimanlal Doshi, Whole-time Director
    • Hitesh Pranjivan Mehta, Whole-time Director, and Chief Financial Officer
    • Sujit Kumar Varma, Independent Director
    • Rajender Mohan Malla, Independent Director
    • Jayesh Dhirajlal Shah, Independent Director

    Waaree Energies IPO – Promoters Holding

    • Pre Issue Share Holding – %
    • Pos Issue Share Holding – %

    Waaree Energies IPO Offer Details or Issue Details

     Particulars No. Of Equity Shares
     Equity Shares Offered Up to X Equity Shares aggregating up to Rs.13,500 Million
    of which:
    Issue Reserved for the Market MakersUp to [●] Equity Shares aggregating up to Rs.[●]
    Million
    Net Issue to the PublicUp to [●] Equity Shares aggregating up to Rs.[●]
    Million
    Of which:
    Retail Investors Portion Not less than [●] Equity Shares
    Other than Retail Individual InvestorsNot more than [●] Equity Shares
     Equity Shares outstanding prior to the Issue197,138,492 Equity Shares
     Equity Shares outstanding after the IssueX Equity Shares

    Waaree Energies IPO Issue Object

    Their Company proposes to utilize the Net Proceeds towards funding the following objects:

    1. Proposing to finance the cost of establishing (a) 2 GW per annum solar cell manufacturing facility (“Solar Cell Facility”), and (b) 1 GW per annum solar PV module manufacturing facility (“Solar Module Facility”), at Village Degam, Taluka Chikhli, District Navasari, Gujarat, India.
    2. General corporate purposes.

    Waaree Energies – Business Strategy

    • Implement strategic backward integration through the development of adequate solar cell manufacturing capacities
    • Scale franchisee network to further consolidate leadership position in retail and MSME rooftop segment
    • Maintain leadership position in Indian utility and enterprise modules sales market with continued capacity expansion
    • Focus on technology upgrades to manufacture high-quality modules
    • Increase sales to international customers

    Waaree Energies IPO – Basis of Offer Price

    The issue price is determined by the company in consultation with the Lead manager based on the following qualitative and quantitative factors.

    Qualitative factors are:

    • Leading solar PV module manufacturer in India well positioned to capture strong industry tailwinds and growth prospects for solar energy
    • Marquee customer base in India and globally
    • Deep penetration into the rooftop segment through their pan-India franchise network
    • Consistent track record of financial performance leading to strong balance sheet position
    • High quality manufacturing with stringent quality control and global accreditations
    • Experienced senior management team with a committed employee base

    The relevant quantitative factors are:

    Basic & Diluted EPSRONW (%)NAV (Rs.)
    31-Mar-212.5014.2817.48
    31-Mar-202.1214.01
    Mar-194.1832.11

    Waaree Energies IPO: Competitive Peers

    Face Value (Rs.)P/EEPS  (Rs.)Return on Net Worth (%)Total Income (Rs. in Millions)
    Waaree Energies Limited10[●]2.5014.2819,933.70
    Listed Peers
    NA

    Waaree Energies IPO Lead Managers

    Lead Managers
    Axis Capital Limited

    HSBC Securities and Capital Markets (India) Private Limited

    ICICI Securities Limited

    Intensive Fiscal Services Private Limited

    Waaree Energies IPO Registrar to offer

    Registrar to the Offer
    Link Intime India Private Limited
    C-101, 247 Park
    LBS Marg, Surya Nagar
    Gandhi Nagar, Vikhroli (West)
    Mumbai – 400 083
    Maharashtra, India
    Telephone: +91 22 4918 6200
    E-mail: waaree.ipo@linkintime.co.in
    Investor grievance e-mail: waaree.ipo@linkintime.co.in
    Website: www.linkintime.co.in
    Contact person: Shanti Gopalkrishnan
    SEBI registration number: INR000004058

    Waaree Energies IPO – Other Details

    • Statutory Auditor – Shah Gupta & Co, Chartered Accountants
    • Legal Counsel to the Company – Khaitan & Co
    • Bankers to the Company –  Bank of Maharashtra, IndusInd Bank Limited, and State Bank of India


    Waaree IPO Review by Stock Brokers

    Top Stock Brokers ReviewCompany ReputationCompetitive EdgeFinancial StatementPopularity IndexPromoters Reputation
    Angel Broking7.5/107.4/108.5/108.1/107.1/10
    Sharekhan7.2/107.1/108.6/108.1/107.2/10
    Kotak Securities7.3/107.5/108.4/108.1/107.3/10
    ICICI Direct7.3/107.3/108.7/108.1/107.1/10
    IIFL7.5/107.2/108.8/108.0/107.1/10
    Edelweiss7.5/107.4/108.4/108.3/107.2/10
    Zerodha7.4/107.1/108.5/108.1/107.0/10
    5Paisa7.1/107.1/108.4/108.1/107.1/10
    Karvy7.4/107.3/108.2/108.1/107.1/10
    Motilal Oswal7.1/107.1/108.6/108.3/107.2/10

     


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      Waaree Energies Limited IPO News

      News 1 – IPO DRHP Download

      News 2 – IPO RHP Prospectus Download


      Waaree Energies IPO Review FAQs

      Ques – What is the Issue Size of Waaree Energies IPO?

      Answer – The Company is making an initial public offer of NA equity shares. They vividly portray the aspects of the issue in this article. You can check the stats on the fresh issue, Offer for sale, and net issue.

      Ques – What is the Price band of Waaree IPO?

      Answer – The price band for this particular IPO ranges between NA. As far as the face value of the share is of concern, it is Rs.10 per share.

      Ques – What is the Waaree Energies IPO Open Date?

      Answer – The opening and closing dates for this IPO have been updated. The IPO is set to open on NA, while the closing date is set at NA.

      Ques – What is the Waaree Energies IPO Allotment Date?

      Answer – They also have the news regarding the respective allotment dates of this IPO. Basis of Allotment finalization is on NA, refund initiation is on NA, credit of shares is on NA, and share listing date is on NA.

      Ques – What is the Waaree Energies IPO Listing Date?

      Answer – Shares of this company shall be listed in the exchanges NA. The date, when the listing would be done, is stagnant on NA.

      Ques – Who is the Registrar of Waaree Energies IPO?

      Answer – One of the reputed registrars is managing the issue of this IPO, i.e. Link Intime India Private Limited. Their website will help you regarding the further information you are on the lookout for.

      Ques – Who is the Promoter of Waaree Energies IPO?

      Answer – Here are the promoters of this IPO – HITESH CHIMANLAL DOSHI, VIRENKUMAR CHIMANLAL DOSHI AND MAHAVIR THERMOEQUIP PRIVATE LIMITED. You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.

      Ques – What is GMP of Waaree Energy IPO?

      Answer – They have obtained the GMP of this IPO and it is NA. Further insights of Kostak rate and subject to sauda or SS are as well included in this report.

      Ques – Is Waaree Energy IPO good for Investment?

      Answer – They have further provided the financial status of the company in this article, from the past few years. You can refer to the same, and also check the line of operations they are into and then decide to invest in the IPO.

      Ques – What is the PAT of Waaree Energies?

      Answer – They have the information of company financials, and according to that, they have the figures from the last few years to provide. PAT for the financial year 2021 in Million is 481.90, 2020 is 390.21, 2019 is 823.40.


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