Waaree Energies to Launch IPO on October 21, 2024

Varahimedia.com online news,National, October 17th, 2024: Waaree Energies Limited has announced its plans to launch an Initial Public Offering (IPO) on Monday, October 21, 2024. The IPO will offer equity shares in a price band set between ₹1,427 and ₹1,503 per share. Bids can be placed for a minimum of 9 shares and in multiples of 9 thereafter. The offer will close on Wednesday, October 23, 2024.

The IPO consists of two components: a fresh issue of shares worth ₹36,000 million and an offer for sale of 4.8 million shares. These shares will be sold by Waaree Sustainable Finance Private Limited and Chandurkar Investments Private Limited. The offering also includes a reservation for eligible employees.

Qualified Institutional Buyers (QIBs) will have access to up to 50% of the net offer, with a portion reserved for anchor investors, while non-institutional bidders and retail investors will also have specific portions allocated. The IPO follows SEBI regulations, and all non-anchor investors will participate through the ASBA process.

The equity shares are proposed to be listed on BSE and NSE, and the lead managers for the offering include Axis Capital, IIFL Securities, Jefferies India, Nomura Financial, SBI Capital, Intensive Fiscal Services, and ITI Capital.

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