CALCULATE YOUR SIP RETURNS

SEBI Gave NOD for Waaree Energies IPO: Check Out Key Details

24 September 20242 mins read by Angel One
The leading PV) module manufacturer, Waaree Energies, received the green light from SEBI to float an IPO and raise funds from the public.
SEBI Gave NOD for Waaree Energies IPO: Check Out Key Details
ShareShare on 1Share on 2Share on 3Share on 4Share on 5

Waaree Energies Limited, a prominent player in the solar photovoltaic (PV) module manufacturing industry, has secured approval from the market regulator, the Securities and Exchange Board of India (SEBI) for its Initial Public Offering (IPO). 

As per the draft red herring prospectus (DRHP) filed with SEBI, Waaree Energies IPO is a combination is a mix of fresh issue and offer for sale. The company plans to raise up to ₹3,000 crore from fresh issue. The company has not disclosed the exact amount it intends to raise from the public issue.

Key details of the IPO:

  • Fresh Issue: The company will offer new equity shares to the public and plans to raise up to 3,000 crore.
  • Offer for Sale (OFS): The offer for sale (OFS) up to 32,00,000 or 32 lakh equity shares having a face value of ₹10 per share.
  • Use of Proceeds: The funds raised will be utilised to establish a 6 gigawatt (GW) Ingot Wafer, Solar Cell, and Solar PV Module manufacturing facility in Odisha. Additionally, the company will use the funds for general corporate purposes.

The OFS component of the IPO will include shares from Waaree Sustainable Finance Private Limited (formerly known as Mahavir Thermoequip Private Limited), a promoter of the company, Chandurkar Investments Private Limited, and Samir Surendra Shah.

The successful completion of this IPO will provide Waaree Energies with the necessary capital to expand its operations, strengthen its market position, and contribute to India’s renewable energy goals.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.

 

We're Live on WhatsApp! Join our channel for market insights & updates

Enjoy ₹0 Account Opening Charges
4.4 Cr+DOWNLOADS
Enjoy ₹0 Account Opening Charges

Get the link to download the App

Send App Link
Get it on Google PlayDownload on the App Store
Open Free Demat Account!
Enjoy ₹0 Account Opening Charges