• Source:JND
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Waree Energies Ltd has a fixed price band between Rs 1,427 and Rs 1,503 for its initial public offering (IPO) with a face value of Rs 10. Waree Energies IPO will open for public subscription between October 21 to October 23. Meanwhile, anchor investors can have a day on October 18 to place their bid. Investors who are interested in placing a bid for the energy sector public issue will have to buy a lot of 9 shares- a minimum investment of Rs 13527-, retail investors can bid for a maximum of 9 lots.

Solar panel manufacturer Waree Energies aims to raise Rs 3,600 crore (Waree Energies IPO Issue Size) through an initial public offering (IPO) 

The IPO comprises a fresh issue of shares worth Rs 3,600 crore and an offer for sale (OFS) of 4.8 million shares by a promoter and existing shareholders, according to a draft red herring prospectus (DRHP). The OFS shares are being sold by the promoter Warri Sustainable Finance Pvt Ltd and the shareholder Chandurkar Investments Pvt Ltd.

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Waree Energies IPO GMP Today

Waree Energi's grey market premium (GMP) is creating a euphoric buzz around it as the shares are trading at over 90% premium in the grey market on Wednesday, according to investorgain.com. The stock is trading at Rs 2868 per share, up 1365 rupees or 90.82 per cent.

Waree Energies IPO Details

Waree Energies Ltd has reserved up to 50% of the shares in the public issue for eligible institutional buyers (QIBs), up to 15% for non-institutional institutional investors (NIIs), and approximately 35% of the offer reserved for retail investors. The employee reservation portion includes up to 650 million shares.

Most probably, the allocation of Warri Energies shares based on the IPO will conclude on Thursday, October 24th, and the company will start redemption on Friday, October 25th, while the shares will be credited to the demat accounts of the allottees the day following redemption. Warri Energy is anticipated to be listed on Monday, October 28th on the BSE and NSE.

Waree Energies IPO Price Band - Rs 1,427 and Rs 1,503

Waree Energies IPO Lot Size - A lot of 9 shares

Waree Energies IPO Issue Size - The company aims to raise Rs 3600 crore

What does Waree Energies do?

Founded in December 1990, Warri Energies Limited is an Indian company that manufactures solar photovoltaic modules and operates with a total installed capacity of 12 GW. The solar energy product line includes multi-crystalline modules, mono-crystalline modules, and topcon modules, which are composed of flexible bifacial modules (mono PERC) as well as building-integrated photovoltaic modules (BIPV) in both framed and frameless versions.

Also Read: Upcoming IPO: Waree Energies To Float Rs 3,600 Crore IPO On October 21; Key Details

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