Waaree Energies Sets IPO Price Band Ahead of Major Market Entry

Waaree Energies announced the price band for its Rs 4,321-crore IPO, opening to the public on October 21. The offering includes a Rs 3,600 crore fresh issue and a Rs 721.44 crore Offer For Sale. Proceeds will fund new manufacturing facilities in Odisha, boosting Waaree's solar energy capacity.

Waaree Energies, a prominent player in India's solar energy market, has set its initial public offering (IPO) price band between Rs 1,427 to Rs 1,503 per share, targeting a total raise of Rs 4,321 crore.

The IPO will open for public subscription from October 21 to October 23, with a special session for anchor investors on October 18, as per the company's announcement.

Funds from the IPO, which includes a fresh issue of Rs 3,600 crore and an Offer For Sale of 48 lakh shares, will be earmarked for developing a 6 GW solar manufacturing facility in Odisha, while enhancing the company's strategic market position.

(With inputs from agencies.)