Waaree Energies Ltd.'s initial public offering received the highest number of applications at the upper price band ever received for book-build issue. The public issue of India's largest solar module manufacturer by capacity, worth Rs 4,321 crore, received 97.34 lakh applicants, the company said in a statement.
The price band for the issue was set at Rs 1,427–1,503 per share. Waaree Energies IPO received bids for around 1,60.92 crore shares against 2.12 crore shares on offer, as per exchange data.
Waaree Energies Subscription Details
Overall subscribed 76.34 times
Attracted subscription of over Rs 2.41 lakh crore
QIB portion subscribed 208.63 times
HNI-NII portion subscribed 62.48 times.
Retail portion subscribed 10.79 times
Employee portion subscribed 5.17 times
Waaree Energies IPO Allotment Underway
The allotment for shares under Waaree Energies IPO is to be finalised on Oct. 24, Thursday. The company's shares will be listed on the BSE and the National Stock Exchange on Oct. 28.
Investors can check the Waaree Energies IPO allotment status on the official website of the registrar for the IPO, Link Intime India Pvt. Ltd. and on the BSE website.
Waaree Energies IPO: Key Details
Waaree Energies Ltd.'s IPO has a total issue size of Rs 4321 crores, which includes a fresh issue of Rs 3,600 crore and an offer for sale worth Rs 721 crore. The company's anchor investor portion stood at Rs 1276.93 crore.
On the upper price band of Rs 1,503 per share, the company's market capitalization stands at over Rs 43,000 crore.
The company will be using around Rs 2,750 crore of the net IPO proceeds to enhance its capacity. The company will be setting up a 6 GW ingot wafer, solar cell and solar module facility. The company's total solar module capacity stands over 13 GW currently, which it aims to grow to over 20 GW by FY27.
The company is expected to finalize the basis of share allotment on Oct. 24, and will be listing on Indian exchanges on Oct. 28.
Axis Capital, IIFL Securities, Jefferies India, Nomura Financial Advisory and Securities (India) Private Ltd, SBI Capital Markets, Intensive Fiscal Services and ITI Capital are the book-running lead managers to the issue.
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