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Waaree Energies ipo Live: The initial public offering (IPO) of Waaree Energies has officially opened for subscription today, featuring a fresh equity sale of Rs 3,600 crore alongside an offer for sale (OFS) of 48 lakh shares. The subscription period will run until October 23. Prior to the opening, the company successfully raised Rs 1,277 crore from 92 anchor investors.
The IPO is priced in the range of Rs 1,427 – 1,503 per share, allowing investors to bid in lots of nine shares. Market analysts report that the current grey market premium (GMP) for Waaree Energies stands at Rs 1,340, reflecting an impressive premium of 89% over the issue price.
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According to the Waaree Energies DRHP, the net proceeds of the Fresh Issue are proposed to be used for:
-Part finance 6GW of Ingot Wafer, Solar Cell and Solar PV Module manufacturing set-up in Odisha
-Corporate purposes
13:54 (IST) 21 Oct 2024 Waaree Energies IPO 2024 Live: Waaree Energies IPO Allotment Date
The share allotment for Waaree Energies’ IPO is expected to be finalized on October 24, 2024. Following this, the company is anticipated to make its debut on the stock exchanges on October 28, 2024, marking a significant milestone for the firm and its investors.
13:39 (IST) 21 Oct 2024 Waaree Energies IPO 2024 Live: Waaree Energies Reports Impressive Financial Growth
Waaree Energies has showcased robust financial performance, with revenue escalating from Rs 2,854.3 crore in FY2022 to Rs 11,397.6 crore in FY2024. This remarkable growth translates to year-on-year increases of 46.1%, 136.5%, and 68.8%, respectively. Concurrently, the company’s EBITDA surged from Rs 111 crore to Rs 1,574.4 crore, resulting in an expansion of EBITDA margins from 3.9% to 13.8%.
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