Waaree Energies IPO: Key details in 10 points as upcoming IPO opens next week

Waaree Energies Limited is set to launch its Initial Public Offering (IPO) on October 21, 2024. Here are the critical details in 10 points:

GMP (Grey Market Premium): The shares of Waaree Energies are currently available at a premium of ₹1,426 in the grey market.

IPO Dates: The IPO will be open for subscription from October 21 to October 23, 2024, remaining open for three days, from Monday to Wednesday.

IPO Price Band: The price range for the IPO has been set between ₹1,427 and ₹1,503 per equity share.

IPO Size: The company aims to raise ₹4,321.44 crore through this book-build issue. This includes ₹3,600 crore from the issuance of fresh shares and ₹721.44 crore through the Offer for Sale (OFS) route.

Lot Size: Investors can apply in lots, with each lot comprising nine shares of Waaree Energies.

Allotment Date: The tentative date for share allotment is October 24, 2024.

Registrar: Link Intime India Private Limited has been appointed as the official registrar for this IPO.

Lead Managers: The IPO is being managed by Axis Capital, IIFL Securities, Jefferies India, Nomura Financial Advisory and Securities, SBI Capital Markets, Intensive Fiscal Services, and ITI Capital.

Listing: The shares are proposed to be listed on both the BSE and NSE, with the listing expected to take place on October 28, 2024, following the 'T+3' listing rule.

Financial Review: Waaree Energies reported a total income of ₹11,632.76 crore. The Net Asset Value (NAV) of the IPO is 154.96, with a Price-to-Earnings (PE) ratio of 30.87, and a Return on Capital Employed (ROCE) of 21.89%. Post-listing, the company will compete with peers like Websol Energy Systems and Premier Energies Ltd.

Keep an eye on Waaree Energies as it makes its debut on the primary market next week, offering a promising opportunity for investors.