31 Mar 2022
Assets2,237.40
Total Income2,945.85
Profit After Tax79.65
NET Worth427.13
Reserves and Surplus230.43
Total Borrowing313.08
At a glance
Updated 2026-09-13Waaree Energies operates in the 66,537.00 segment. Waaree Energies is a Mainboard IPO with an issue size of ₹4,321.44 crore, proposed for listing on BSE, NSE. The offer opens on 21st Oct 2024 and closes on 23rd Oct 2024. The issue structure includes a fresh issue of ₹3,600.00 crore and an offer-for-sale component of ₹721.44 crore. The current listing schedule points to 28th Oct 2024.
Issue details
Listing atBSE, NSE
Issue typeBook Build Issue
Issue size₹4,321.44 Cr
Fresh issue₹3,600.00 Cr
Offer for sale₹721.44 Cr
Face value₹10
Price band₹1,427.00–₹1,503.00
Allotment24th Oct 2024
Listing28th Oct 2024
Listing performance
Full performance ↗Issue price₹1,503.00
Listing price₹2,500.00
Current price—
Listing gain66.33%
Current return—
Price progressionIssue → Listing → Current
Grey market
GMP page ↗Latest GMP₹1,295.00
GMP / upper price86.16%
Est. listing₹2,798.00
GMP is unofficial sentiment data, not an exchange price.
Timeline
Opens21st Oct 2024
Closes23rd Oct 2024
Allotment24th Oct 2024
Refund25th Oct 2024
Demat25th Oct 2024
Listing28th Oct 2024
Subscription demand
Full bidding ↗Total79.44×
Lot size
| Investor | Lots | Shares | Amount |
|---|---|---|---|
| Minimum Bid | 1 | 9 | ₹13,527 |
Company
Use of proceeds
| Object | Amount |
|---|---|
| Part finance the cost of establishing the 6GW of Ingot Wafer, Solar Cell and Solar PV Module manufacturing facility in Odisha, India by way of an investment in our wholly owned subsidiary, Sangam Solar One Private Limited (“Project”); and | ₹2,775.00 Cr |
| General corporate purposes. | ₹697.70 Cr |
Financial performance
Year-wise operating scale, profitability and balance-sheet context.Revenue3,496.41₹ Cr · -69.9% vs prior year
PAT401.13₹ Cr · -68.5% vs prior year
Assets11,989.48₹ Cr · +6.0% vs prior year
Net Worth4,471.71₹ Cr · +9.7% vs prior year
Borrowing261.24₹ Cr · -17.7% vs prior year
3-year financial trendRevenue / EBITDA / PAT
₹ crore31 Mar 2023
Assets7,419.92
Total Income6,860.36
Profit After Tax500.28
NET Worth1,826.02
Reserves and Surplus1,594.92
Total Borrowing273.48
31 Mar 2024
Assets11,313.73
Total Income11,632.76
Profit After Tax1,274.38
NET Worth4,074.84
Reserves and Surplus3,825.00
Total Borrowing317.32
30 Jun 2024
Assets11,989.48
Total Income3,496.41
Profit After Tax401.13
NET Worth4,471.71
Reserves and Surplus4,221.69
Total Borrowing261.24
KPIs
| KPI | Jun 30, 2024 |
|---|---|
| ROE | 8.79% |
| ROCE | 9.45% |
| Debt / Equity | 0.06% |
| RoNW | 8.81% |
| PAT Margin | 11.47% |
| Price to Book Value | 8.84 |
Valuation & shareholding
Pre-IPO EPS48.69
Post-IPO EPS56.16
Pre-IPO P/E30.87
Post-IPO P/E26.76
Promoter holding pre71.8%
Promoter holding post64.3%
Market cap₹42939.36 Cr.
Peer comparison
| Company | EPS | P/E | RoNW | NAV |
|---|---|---|---|---|
| Waaree Energies IPO | — | 26.76 x | — | — |
| Fujiyama Power IPO | — | 25.84 x | — | — |
| Emmvee Photovoltaic IPO | — | 20.01 x | — | — |
| Solarworld Energy IPO | — | 39.48 x | — | — |
Issue expenses
| Expense | Amount |
|---|---|
| Fees payable to the BRLMs (including underwriting commission, brokerage and selling commission) | ₹101.99 Cr |
| Commission/processing fee for SCSBs, Sponsor Banks and Bankers to the Offer. Brokerage, underwriting commission and selling commission and bidding charges for Members of the Syndicate, Registered Brokers, CRTAs and CDPs. ( | ₹7.44 Cr |
| Fees payable to the Registrar to the Offer | ₹0.10 Cr |
| Other expenses (i) Listing fees, SEBI filing fees, Stock Exchange processing fees, book building software fees and other regulatory expenses, printing and stationery expenses, advertising and marketing expenses for the Offer, fees payable to the monitoring agency and fees payable to the legal counsel; | ₹22.71 Cr |
| Other advisors to the offer such as (fees payable to the independent chartered accountant appointed for providing confirmations and certificates for the purpose of the Offer, the independent chartered engineer for providing confirmations and certificates in relation to installed capacity, capacity utilisation, etc., with respect to the Objects, the independent project consultant for purposes of certifying certain details in relation to the capital expenditure proposed to be incurred by Company | ₹6.65 Cr |
| Miscellaneous | ₹13.92 Cr |
Registrar & lead managers
Registrar
MUFG Intime India Pvt.Ltd.Lead managers
- SBI Capital Markets Ltd.
Offer documents
Data is reconciled from multiple public IPO sources. Official exchange filings and offer documents remain the source of truth. Last verified 2026-09-13.
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