Waaree Energies Limited (MAINBOARD)
Oct 21, 2024 - Oct 23, 2024
| Price | ₹1427 - ₹1503 |
| Premium | ₹1295 |
|---|---|
| Lot size | 9 |
| Allotment | Oct 25, 2024 |
| Listing | Oct 28, 2024 |
| Category | Lot(s) | Qty | Amount | Reserved |
|---|---|---|---|---|
| Retail | 1 | 9 | 13527 | 1101319 |
| sHNI | 15 | 135 | 202905 | 10489 |
| bHNI | 74 | 666 | 1000998 | 20978 |
Last updated on 23-Oct-2024 18:39:05
| Category | Offered | Applied | Times |
|---|---|---|---|
| QIBs | 5663925 | 1217937402 | 215.03 |
| HNIs | 4247945 | 277175268 | 65.25 |
| HNIs 10+ | 2831963 | 201987576 | 71.32 |
| HNIs 2+ | 1415982 | 75187692 | 53.1 |
| Retail | 9911870 | 111701664 | 11.27 |
| Employees | 432468 | 2356299 | 5.45 |
| Total | 20256208 | 1609170633 | 79.44 |
Application Wise Breakup (Approx) | |||
|---|---|---|---|
| Category | Reserved | Applied | Times |
| HNIs (10L+) | 20978 | 271403 | 12.94 |
| HNIs (2-10L) | 10489 | 499825 | 47.65 |
| Retail | 1101319 | 8822104 | 8.01 |
| Employee | - | 141581 | - |
| Total Applications: 9734913 | |||
| © IPO Premium | |||
| Subscription Demand (in ₹ crore) | |||
|---|---|---|---|
| Category | Offered | Demand | Times |
| QIBs | 851.29 | 183055.99 | 215.03 |
| FIIs | - | 73304.2 | - |
| DIIs | - | 72996.03 | - |
| Mutual funds | - | 9646.22 | - |
| Others | - | 27109.54 | - |
| HNIs | 638.47 | 41659.44 | 65.25 |
| HNIs 10+ | 425.64 | 30358.73 | 71.32 |
| HNIs 2+ | 212.82 | 11300.71 | 53.1 |
| Retail | 1489.75 | 16788.76 | 11.27 |
| Employees | 65 | 354.15 | 5.45 |
| Total | 3044.51 | 241858.35 | 79.44 |
| QIB Interest Cost per share (7 Days) | |||||
|---|---|---|---|---|---|
| @7% ₹433.87 | @8% ₹495.85 | @9% ₹557.83 | @10% ₹619.82 | @11% ₹681.8 | @12% ₹743.78 |
Waaree Energies IPO Details
| Total Issue Size | [28,752,095] shares (aggregating up to ₹4,321.44 Cr) |
| Fresh Issue | [23,952,095] shares (aggregating up to ₹3,600.00 Cr) |
| Offer for Sale | 4,800,000 shares of ₹10 (aggregating up to ₹721.44 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 263,331,104 |
| Share holding post issue | 287,283,199 |
Waaree Energies IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50.00% of the Net Issue |
| Retail Shares Offered | Not less than 35.00% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15.00% of the Net Issue |
Key Performance Indicators
| KPI | Jun-24 | Mar-24 | Mar-23 |
|---|---|---|---|
| ROE | 8.79% | 30.26% | 26.26% |
| ROCE | 9.45% | 26.29% | 31.61% |
| RONW | 8.81% | 30.36% | 26.45% |
| D/E | 0.06 | 0.08 | 0.15 |
| EPS (Diluted) | 14.93 | 47.86 | 21.57 |
P/E Pre IPO | 30.87 | ||
| P/E Post IPO | 26.76 |
Financial Statement (Restated)
| Period Ended | Jun-24 | Mar-24 | Mar-23 | Mar-22 |
|---|---|---|---|---|
| Assets | 11,989.48 | 11,313.73 | 7,419.92 | 2,237.40 |
| Revenue | 3,496.41 | 11,632.76 | 6,860.36 | 2,945.85 |
| Profit After Tax | 401.13 | 1,274.38 | 500.28 | 79.65 |
| Net Worth | 4,471.71 | 4,074.84 | 1,826.02 | 427.13 |
| Reserves and Surplus | 2,464.69 | 3,825 | 585.96 | 230.43 |
| Total Borrowing | 261.24 | 317.32 | 273.48 | 313.08 |
| Amount in Crore | ||||
About Company
Waaree Energies Limited, incorporated in December 1990, is a leading Indian manufacturer of solar photovoltaic (PV) modules with an installed capacity of 12 GW. The company offers a diverse product portfolio, including multicrystalline, monocrystalline, and TopCon modules, such as flexible bifacial modules (Mono PERC), framed and unframed, and building-integrated photovoltaic (BIPV) modules. Operating across four manufacturing facilities located in Surat, Tumb, Nandigram, and Chikhli in Gujarat, India, covering 136.30 acres, the Tumb facility is ISO 45001:2018 and ISO 14001:2015 certified, while the Chikhli facility is ISO 45001:2018, ISO 9001:2015, and ISO 14001:2015 certified. Waaree Energies adheres to stringent safety standards for its products. The company’s customer base has evolved over the years, serving 1,381, 716, 566, and 373 customers in India, and 31, 26, 33, and 20 customers internationally as of March 31, 2021, 2022, and 2023, and June 30, 2023, respectively. As of June 30, 2023, the company had 1,019 full-time employees.
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Strong Market Presence: Waaree has a robust presence in the solar energy sector, with significant production capacities and a large order book.
Diverse Business Model: The Company operates across multiple segments including manufacturing, project execution, and electricity generation.
Focus on Innovation: Waaree's continuous investment in research and development ensures the production of high-quality, efficient solar modules.
Dependence on Government Policies: The Company’s operations are influenced by renewable energy policies, subsidies, and regulations.
Fluctuations in Raw Material Prices: Changes in the prices of raw materials like silicon can impact margins.
High Competition: The renewable energy sector is highly competitive with increasing pressure on pricing and technological advancements.
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: waaree.ipo@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html