Waaree Energies IPO Set To Open on Oct 21

Waaree Energies Ltd, one of the known solar PV module manufacturers, is set for its big IPO launch. The public issue opens on October 21, 2024, and closes on October 23, 2024, with anchor investors getting a head start on October 18. Waaree Energies IPO will feature a fresh issue of Rs.3,600 crore and an offer for sale (OFS) of up to 4.8 million shares by existing shareholders, including Waaree Sustainable Finance and Chandurkar Investments Pvt Ltd.

What’s the Money for?

The funds raised from the fresh issue from Waaree Energies IPO will help finance a new 6GW Ingot Wafer, Solar Cell, and Solar PV Module manufacturing facility in Odisha. This expansion will be handled by Waaree’s subsidiary, Sangam Solar One Private Limited, and the company is betting big on boosting its manufacturing capacity, which already stands at 12GW across five factories in Gujarat and Uttar Pradesh.

Market Presence

Waaree Energies has come a long way since its inception in 2007. With a focus on affordable solar solutions, the company has established itself as the largest solar PV module manufacturer in India. They’ve also got some serious tech behind their products, offering multicrystalline, monocrystalline, and advanced Tunnel Oxide Passivated Contact (TOPCon) modules, which improve efficiency and even offer flexible designs for various applications.

The Numbers Game

In FY24, Waaree Energies pulled in Rs.3,408.9 crore in revenue, up from Rs.3,328.29 crore in FY23. Their EBITDA also saw a jump, reaching Rs.639.98 crore in FY24 compared to Rs.554.29 crore last year. Net profit climbed to Rs.401.12 crore, while the firm’s debt rose to Rs.513.24 crore—something investors might want to keep an eye on. The company also operates a retail network with 284 franchisees as of June 30, 2023, and has served 373 customers in India and 20 globally.

Key Details 

Conclusion: Waaree Energies is a big name in solar energy, and the Waaree Energies IPO shows the company’s plans to ramp up production even further. With growing revenues, a diversified product lineup, and a good market presence, it’s an IPO to watch. But do keep in mind the risks as you weigh your investment decisions!

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.