Waaree Energies Limited has received approval from the Securities and Exchange Board of India (SEBI) to proceed with its Rs 30 billion Initial Public Offering (IPO). The IPO will include fresh equity shares worth Rs 30 billion and 3.2 million equity shares offered for sale (OFS) at a face value of Rs 10 each. Of the OFS, Samir Surendra Shah will offer 50,000 shares, Chandrakar Investments will offer 450,000 shares, and Waaree Sustainable Finance will offer 2.7 million shares. Waaree had submitted its draft IPO papers in December 2023.

The issue’s Book Running Lead Managers include Axis Capital, IIFL Securities, Jefferies India, Nomura Financial Advisory, SBI Capital Markets, Intensive Fiscal Services, and ITI Capital.

Also Read | Waaree Energies joins hands with IRCON Renewable Power to deliver 200 MW Solar Modules

In August 2024, Waaree Energies secured a 90 MW order from Juniper Green Cosmic Private Limited to supply 540/545Wp dual glass bifacial modules for a solar project in Bikaner, Rajasthan. In July 2024, Waaree Renewable Technologies received a repeat engineering, procurement, and construction order from ISMT Limited for a 30 MWp DC ground-mounted solar project.

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