Waaree Energies IPO

Waaree Energies IPO 2025 Day 3 LIVE Updates Issue booked 76 Times Beats Tata’s, Bajaj IPOs with Record 97 Lakh Applications

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The Waaree Energies IPO has made headlines for its record-breaking performance in the Indian primary market. As of the third day of bidding, the initial public offering has garnered an unprecedented 97.34 lakh applications, surpassing previous records set by notable companies like Tata Tech and Bajaj Housing Finance. This remarkable response highlights the strong investor interest in the solar energy sector, especially given Waaree’s impressive fundamentals and growth strategies.

Waaree Energies IPO 2025

Initiated on October 21, the IPO is set to close today, October 23, with a price band of ₹1,427 to ₹1,503 per share. The public offering aims to raise ₹4,321.44 crore, which will be utilized for expanding manufacturing capacities and other corporate purposes. Market analysts remain bullish, attributing the overwhelming subscription numbers to Waaree Energies’ established reputation and anticipated growth trajectory in the renewable energy landscape.

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Waaree Energies IPO Subscription Performance

Subscription Category Subscription Rate
Overall Subscription 76.34 times
Qualified Institutional Buyers 208.63 times
Non-Institutional Investors 62.48 times
Retail Investors 10.79 times
Employee Portion 5.17 times

Waaree Energies IPO Historical Applications Record

Record Holder Number of Applications
Waaree Energies IPO 97.34 lakh
Previous Record Holder Tata Tech, Bajaj Housing

Financial Projections

Fiscal Year Total Income (₹ Cr) Net Profit (₹ Cr)
FY22 2,945.85 79.65
FY23 6,860.36 500.28
FY24 11,632.76 1,274.38
Q1 FY25 3,496.41 401.12

IPO Objectives

Use of Proceeds Amount (₹ Cr)
Manufacturing Facility Setup 2,775
General Corporate Purposes Remaining Funds

Market Valuation

Valuation Metric Value
Market Capitalization ₹4,321.44 crore
Price-to-Earnings (P/E) Ratio 31.4x (FY24 earnings)

GMP Insights

Grey Market Premium (GMP) Value (₹)
Current GMP 1,377
Premium Percentage 92%

Manufacturing Capacity

Manufacturing Facility Capacity (GW)
Total Installed Capacity 12 GW
Largest Player in India Yes

Analyst Recommendations

Analyst Firm Recommendation
Aditya Birla Money Subscribe
Choice Broking Subscribe
BP Equities Subscribe

IPO Timeline

Event Date
Bidding Start October 21
Bidding End October 23
Allotment Date October 24
Listing Date October 28

Performance Metrics

Metric FY22 (%) FY23 (%) FY24 (%)
PAT Margin 2.70 7.29 10.96
RoCE 23.49 48.83 36.95

IPO Size Breakdown

IPO Components Amount (₹ Cr)
Fresh Issue 3,600
Offer for Sale 721.44

Future Growth Potential

Growth Drivers Description
Backward Integration Manufacturing own solar cells
Market Expansion Domestic and international orders

Investor Sentiment

Investor Type Sentiment
Qualified Institutional Buyers Extremely Positive
Retail Investors Moderately Positive

Order Book Status

Order Book Size Amount (GW)
Total Orders 16.6
U.S. Subsidiary Orders 3.75

Waaree Energies IPO Summary

The Waaree Energies IPO has set new benchmarks in the Indian stock market, reflecting a robust appetite for renewable energy investments. With record-breaking applications and a strong financial outlook, the company is well-positioned for future growth. The IPO not only aims to enhance Waaree’s manufacturing capabilities but also indicates investor confidence in the solar sector’s potential in India. As the IPO draws to a close, the anticipation for its market debut is palpable, with analysts recommending subscriptions for long-term gains.

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