Waaree Energies, a solar panel manufacturer in India, finalized its IPO allotment on October 25, 2024. Initially planned for October 24, the IPO saw an oversubscription rate of 76.34 times, largely due to institutional demand. The public issue, valued at approximately INR4,321.44 crore (~$514 million), is the largest for a solar module manufacturer in India by capacity. It includes a fresh equity issue of INR3,600 crore (~$428.17 million) and an Offer For Sale (OFS) of 4.8 million shares worth INR721.44 crore (~$85.8 million). The IPO price range was set between INR1,427 and INR1,503 (~$16.97 to $17.88) per share. Waaree raised about INR1,277 crore (~$151.88 million) from anchor investors before the launch. Investors can check the allotment status via Link Intime India or the BSE website. The company’s shares are scheduled to be listed on the BSE and NSE on October 28, 2024. The IPO was managed by Axis Capital, IIFL Securities, Jefferies India, and other lead managers.
Waaree Energies finalizes $514M IPO, oversubscribed 76.34 Times
Investors can check their IPO allotment status through Link Intime India or on the BSE website as the finalization completes. (Image Credit/Source:Pixabay/Pexels)
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