Waaree Energies Clears SEBI Hurdle, Set For IPO By Saur News Bureau/ Updated On Tue, Sep 24th, 2024 Waaree Energies Clears SEBI Hurdle, Set For IPO Mumbai-based solar PV module manufacturer, Waaree Energies has received the Securities and Exchange Board of India (SEBI) approval for its proposed initial public offering (IPO). The company hopes to raise a fresh issue of equity shares aggregating up to Rs 3,000 crore and an offer for sale of up to 3,200,000 equity shares with a face value of Rs 10 each. Waaree is India’s largest module maker with 12 GW capacity, which has also expanded into cell manufacturing, and hopes to set up a further 6 GW of wafer, ingot and cell making plants in Odisha from the IPO proceeds. The offer for sale comprises up to 2,700,000 equity shares by Waaree Sustainable Finance, up to 450,000 equity shares by Chandurkar Investments, and up to 50,000 equity shares by Samir Surendra Shah. <a href='https://secure.meilleurmedia.com/www/delivery/ck.php?n=a23dad63&cb=INSERT_RANDOM_NUMBER_HERE' target='_blank'><img src='https://secure.meilleurmedia.com/www/delivery/avw.php?zoneid=17&source=https%3A%2F%2Fwww.saurenergy.com&cb=INSERT_RANDOM_NUMBER_HERE&n=a23dad63&ct0=INSERT_ENCODED_CLICKURL_HERE' border='0' alt='Advertisment' /></a> Waaree Energies filed their preliminary initial public offering (IPO) papers in December 2023, the solar panel manufacturer, filing preliminary papers with the capital markets regulator SEBI for the initial public offering (IPO). The IPO, a combination of a fresh issue of shares and an offer-for-sale (OFS), reflects the company’s strategic vision for expansion and innovation. Waaree Energies Recognized In RETC PV Benchmarking Report Also Read In September 2021, Waaree Energies had initially filed draft papers for an IPO, seeking to raise funds through a fresh issue of Rs 1,350 crore and an OFS of 40.07 lakh shares. While receiving approval from the regulator in January 2022, the company decided to withdraw the IPO papers later that year, possibly due to market volatility. <a href='https://secure.meilleurmedia.com/www/delivery/ck.php?n=a012cbda&cb=INSERT_RANDOM_NUMBER_HERE' target='_blank'><img src='https://secure.meilleurmedia.com/www/delivery/avw.php?zoneid=16&source=https%3B%2F%2Fwww.saurenergy.com&cb=INSERT_RANDOM_NUMBER_HERE&n=a012cbda&ct0=INSERT_ENCODED_CLICKURL_HERE' border='0' alt='Advertisment' /></a> According to the company filing, Axis Capital Limited, IIFL Securities Limited, Jefferies India Private Limited, Nomura Financial Advisory and Securities (India) Private Limited, SBI Capital Markets Limited, Intensive Fiscal Services Private Limited, and ITI Capital Limited are the bookrunners for the public issue. Waaree Energies Yet To See Approval For Issue Of IPO Also Read Tags: IPO, SEBI, Waaree Energies
