Waaree Energies IPO GMP Today, Waaree Energies IPO Grey Market Premium Updates | Waaree Energies IPO, Latest target, Opening gain
Waaree Energies IPO began on October 21, 2024. It will close on October 23, 2024. The Total IPO Size is ₹ 4,321.44 Crore Approx. The company set its IPO price is ₹ 1427 to ₹1503 per share Per Share. There are three basic categories in Waaree Energies IPO Subscription:- 1) Qualified Institutional Buyers. 2) Non-Institutional Investors. 3) Retail.
Waaree Energies plans to use a portion of the IPO proceeds to fund capital expenditure needs, including the establishment of a 6-gigawatt facility in Odisha. Waaree Energies is a solar panel manufacturing company that was founded in 1989 and is headquartered in Mumbai, India. It has plants in Surat and Umbergaon in Gujarat and has India’s largest solar panel manufacturing capacity. The funds will also be used for general corporate purposes.
The Tumb facility is certified with ISO 45001:2018 and ISO 14001:2015 for the manufacture, marketing, supply, and installation of solar photovoltaic modules. The Chikhli facility is certified with ISO 45001:2018, ISO 9001:2015, and ISO 14001:2015 for solar photovoltaic module manufacturing, marketing, and supply.The company also comply with various safety standards for its PV modules.
Incorporated in December 1990, Waaree Energies Limited is an Indian manufacturer of solar PV modules with an aggregate installed capacity of 12 GW.
As of March 31, 2021, 2022, and 2023, and as of June 30, 2023, the company served a total of 1,381, 716, 566, and 373 customers in India, respectively. Outside India, the company served 31, 26, 33, and 20 customers during the same periods.
Competitive Strength
- Largest Solar PV Module Manufacturer in India
- The diversified base of Indian and global customers with a large order book
- Advanced manufacturing facility with global accreditions
- Extensive Pan India retail network
- Consistent track record of financial performance
- Experienced management team
The product portfolio of solar energy products consists of the following PV modules
- Multicrystalline modules
- Monocrystalline modules; and
- TopCon modules include flexible bifacial modules (Mono PERC), both framed and unframed, as well as building-integrated photovoltaic (BIPV) modules.
As of June 30, 2023, the company operates four manufacturing facilities in India, covering a total area of 136.30 acres. These facilities are located in Surat, Tumb, Nandigram, and Chikhli in Gujarat, India.
As of June 30, 2023, the company had 1,019 full-time employees.
| KPI | Values |
|---|---|
| ROE | 8.79% |
| ROCE | 9.45% |
| Debt/Equity | 0.06 |
| RoNW | 8.81% |
| P/BV | 8.84 |
| PAT Margin (%) | 11.47 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 48.69 | 56.16 |
| P/E (x) | 30.87 | 26.76 |