Waaree Energies IPO Sees Record-Breaking Subscription

Waaree Energies' IPO achieved an impressive 76.34 times subscription, driven by robust institutional interest. The Rs 4,321.44 crore offering saw significant demand across different investor categories. Funds will facilitate expanding their solar manufacturing facilities. The sale included a fresh equity issue and Offer For Sale.

Waaree Energies Ltd's initial public offering marked a notable milestone as it achieved a 76.34 times subscription by the end of the share sale period on Wednesday, buoyed by strong interest from institutional investors.

According to NSE data, the IPO worth Rs 4,321.44 crore received 1,60,91,61,741 subscriptions against the 2,10,79,384 shares available. The quota for Qualified Institutional Buyers was subscribed 208.63 times, while non-institutional and retail investors showed 62.48 and 10.79 times interest, respectively.

The IPO includes a fresh equity issue worth Rs 3,600 crore and an Offer For Sale valued at Rs 721.44 crore. Proceeds will be utilized to set up new solar manufacturing facilities in Odisha, enhancing Waaree Energies' market presence.

(With inputs from agencies.)