India's largest solar module manufacturing company Waaree Energies Ltd. is going to launch its IPO from October 21. The company wants to raise a total of Rs 4,321.4 crore through this IPO. It will include a fresh issue and an offer-for-sale. The company has fixed the price band of its shares from Rs 1,427 to Rs 1,503 per share.

Highlights related to the IPO
The company has stated in the Red Herring Prospectus that bidding for Anchor Investors will start on October 18. At the same time, the IPO will be open for the rest of the investors from October 21 to October 23. The company is launching an IPO of Rs 4,321.4 crore, out of which Rs 3,600 crore will be a fresh issue and Rs 721 crore is an offer-for-sale. 50% of the issue is reserved for qualified institutional buyers (QIBs), 15% for non-institutional investors (NIIs) and 35% for retail investors. Some important figures:
 

• Issue Open: October 21
• Issue Closed: October 23
• Total offer size: Rs 4,321.4 crore
• Fresh issue size: Rs 3,600 crore
• Offer-for-sale size: Rs 721 crore
• Face Value: Rs 10 per share
• Price band: Rs 1,427-1,503 per share
• Lot size: 9 shares
• Listing: Will be on NSE and BSE

Shareholding Pattern:  Before the IPO, Waaree Energies held 26,33,31,104 shares, which will increase to 28,72,83,200 shares after the IPO. The ratio of promoter and public shareholding will decrease from 72:28 to 64:36.

Business of Waaree Energies

Waaree Energies was founded in 1990 and is headquartered in Mumbai. The company has the largest solar module manufacturing capacity in India, which is up to 12 GW. As of June 2024, the company had pending orders for solar PV modules of 16.66 GW, which includes both domestic and foreign orders.

The company says that most of these orders will be completed by fiscal 2027, including US-based company Waaree Solar Americas Inc. This also includes orders of 3.75 GW for

Waaree Energies. There is a lot of enthusiasm in the market about this IPO of Waaree Energies. Now it remains to be seen how investors respond to this issue and how quickly the company takes its growth to the next level.