Waaree Energies Ltd IPO | Hindi | Lapaas Learning
Waaree Energies Ltd, a prominent solar PV module manufacturer in India, has launched its IPO, which opened on October 21, 2024, and closes on October 23, 2024. The company is aiming to raise ₹4,321.44 crore through this offering. The price band is set between ₹1,427 and ₹1,503 per share.
Waaree Energies plans to use the proceeds to finance the construction of a 6GW manufacturing facility for ingots, wafers, solar cells, and PV modules in Odisha. The IPO includes both fresh issue shares and an offer for sale from existing shareholders. The company has shown significant financial growth, with a 70% increase in revenue and a 155% rise in profit after tax in FY 2024 compared to FY 2023.
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