Profile : Waaree Energies Limited (WEL) is the  largest Solar PV Module manufacturer of India. It’s largest aggregate installed capacity is12 GW as on June 2024 with an aim to provide quality, cost-effective sustainable energy solutions across the market. WEL has four solar module manufacturing facilities in India, with global presence.

WEL Provides:

Solar Modules

Lithium Ion Battery

Pipes

Solar Inverter

IPO:

Subscription for IPO of Waaree Energies Limited started on 21st October 2024 and ended 23rd October 2024. It’s price band is fixed at ₹1427 to ₹1503 per equity share. The company aims to raise ₹4,321.44 crore, out of which ₹3.600 crore is aimed through the issuance of fresh shares

  • Waaree Energies IPO sees strong subscription on final day
  • Grey market premium indicates potential listing gain of 95%
  • Brokerage firms recommend “subscribe” based on strong fundamentals

Subscription status

  Category                                   Status

Retail Indivisual                 11.27 times

Qualified institutional     215.03 times

Non Institutional               65.25 times

Employee                            5.45 times

Total                                      79.44 times

The IPO has been subscribed 79.44 times.