The company raised Rs 4,321.44 crore via a combination of fresh shares and an offer for sale. The company’s IPO price band ranged between Rs 1,427 to Rs 1,503 per equity share. A retail buyer had to apply for a minimum of 9 shares and then in its multiple, which amounted to Rs 13,527 per equity share. The company opened its IPO for bidding on October 21 and closed on October 23. The allotment of shares will be finalised on October 24. Here’s how you can check the shares allotment status:
Step 1
Open any search browser on your computer. Go to the website of the registrar handling the issue. Link Intime India is the registrar in Waaree Energies’ IPO.
Step 2
Click on the public issue section on the left side of the webpage.
Step 3
Enter details like the company’s name and PAN number/ application number/ client ID/ account number.
Step 4
Hit the submit button.
Step 5
A screen will pop up with the status.
Listing
The stocks Waaree Energies are expected to list on NSE and BSE on October 28.
About Waaree Energy
The company raised Rs 4,321.44 crore via a combination of fresh shares and an offer for sale. The company’s IPO price band ranged between Rs 1,427 to Rs 1,503 per equity share. A retail buyer had to apply for a minimum of 9 shares and then in its multiple, which amounted to Rs 13,527 per equity share.
Expert’s Take on Waaree Energies
“During FY20-24, the company’s revenue/EBITDA/PAT clocked a CAGR of 55%/103%139%, respectively, as the EBITDA margin improved from 4.8% in FY20 to 13.8% in FY24. In 1QFY25, the company’s revenue was at Rs34bn (+2% YoY) while EBITDA and PAT stood at Rs 550 crore (+18% YoY) and Rs 400 crore (+19% YoY), respectively. Based on FY25F annualized financials, the IPO’s higher band implies an EV/EBITDA of 18x, and a P/E of 27x, which is at a discount to its peers, in our view. We recommend subscribing to the IPO, given the strong financials, strong industry tailwinds with long-term opportunities in the solar industry, robust order backlog and further expansion plans,” said InCred Equities in an IPO note.
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