Waaree, India's Solar Leader, Powers Up IPO to Fuel Mega Expansion

Author

Financial Analyst Intern

Publish Date29 December 2023

Reading time1 Min

StockBeginner GuideAngel InvestingSME IPOEconomy MarketAIFInvestmentsMore

Waaree Energies Limited IPO Key Points:

Largest solar PV module manufacturer in India (12 GW capacity)
Filing IPO prospectus (DRHP) with SEBI
Offering:
- Fresh issue: up to ₹3000 crore worth of Equity Shares
- Offer for sale: up to 3,200,000 Equity Shares (₹10 each)
  - 2,700,000 by Promoter Selling Shareholder
  - 450,000 by Chandurkar Investments
  - 50,000 by Samir Surendra Shah
Book Running Lead Managers: Axis Capital, IIFL, Jefferies, Nomura, SBI Capital, Intensive Fiscal, ITI Capital
Net Proceeds Usage:
- 6GW Ingot Wafer, Solar Cell & Module facility in Odisha (part funding)
- General corporate purposes