Waaree Energies IPO subscribed 2.45 times

21 Oct 2024 , 03:24 PM

Today marked the launch of Waaree Energies’ Rs 4,000-crore initial public offering (IPO) on the main market. The company, which will have an installed capacity of 12 GW as of June 30, 2023, is a significant player in the solar energy market and focusses on the production of PV modules.

For its IPO, the manufacturer of solar panels has set a price range of Rs 1,427 to Rs 1,503 per share.

Public subscriptions for the IPO began today at 10 a.m. and will end on October 23 at 5 p.m.

The IPO consists of an offer-for-sale (OFS) of 48 lakh equity shares valued at Rs 721.44 crore, at the higher end of the price band, by a promoter and current shareholders, in addition to a new issue of equity shares totalling Rs 3,600 crore.

As of 3:21 pm, NIIs were leading the charge oversubscribing 5.40 times followed by retail investors who oversubscribed 2.64 times. The employee reserved portion was subscribed 1.24 times and the QIB portion was subscribed 5%.

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