Waaree Energies receives SEBI nod for IPO
POWER & RENEWABLE ENERGY

Waaree Energies receives SEBI nod for IPO

Waaree Energies, a leading solar PV module manufacturer, has secured approval from the Securities and Exchange Board of India (SEBI) for its upcoming initial public offering (IPO). The IPO will include a fresh issue of equity shares amounting to Rs 30 billion and an offer for sale of up to 3.2 million equity shares, each with a face value of Rs 10.

According to the company's press release, the proceeds from the IPO will be used to partially finance the establishment of a 6-GW manufacturing facility for ingot wafers, solar cells, and solar PV modules in Odisha. The remaining funds will be allocated for general corporate purposes.

The offer for sale will include up to 2.7 million shares from Waaree Sustainable Finance, 450,000 shares from Chandurkar Investments, and 50,000 shares from Samir Surendra Shah.

Axis Capital, IIFL Securities, Jefferies India, Nomura Financial Advisory and Securities (India), SBI Capital Markets, Intensive Fiscal Services, and ITI Capital have been appointed as the Book Running Lead Managers for the issue. (ET)

Waaree Energies, a leading solar PV module manufacturer, has secured approval from the Securities and Exchange Board of India (SEBI) for its upcoming initial public offering (IPO). The IPO will include a fresh issue of equity shares amounting to Rs 30 billion and an offer for sale of up to 3.2 million equity shares, each with a face value of Rs 10. According to the company's press release, the proceeds from the IPO will be used to partially finance the establishment of a 6-GW manufacturing facility for ingot wafers, solar cells, and solar PV modules in Odisha. The remaining funds will be allocated for general corporate purposes. The offer for sale will include up to 2.7 million shares from Waaree Sustainable Finance, 450,000 shares from Chandurkar Investments, and 50,000 shares from Samir Surendra Shah. Axis Capital, IIFL Securities, Jefferies India, Nomura Financial Advisory and Securities (India), SBI Capital Markets, Intensive Fiscal Services, and ITI Capital have been appointed as the Book Running Lead Managers for the issue. (ET)

Next Story
Resources

Workplace Solutions Company IndiQube, Surpasses 100 Properties Milestone

Workplace solutions company, IndiQube has surpassed the 100 properties milestone. The company that started nine years ago with a single property in Bengaluru has now expanded across 14 cities and caters to 700+ clients. Today, the company has a portfolio of over 7.2 million square feet with presence across major tier I cities including Bengaluru, Pune, Chennai, Hyderabad, Mumbai, Gurgaon and Noida. Also, post pandemic the company has made its foray into tier II cities including Coimbatore, Jaipur, Madurai, Kochi, Vijayawada, Calicut and Mohali. In Bengaluru, IndiQube has 59 properties cove..

Next Story
Infrastructure Transport

Ashoka Buildcon turns lowest bidder for Rs 27.91 billion NHAI projects

Ashoka Buildcon Ltd announced on November 18, 2024, that it has emerged as the lowest bidder (L-1) for two National Highways Authority of India (NHAI) projects in West Bengal, with a combined value of Rs 27.91 billion. These Engineering, Procurement, and Construction (EPC) projects will be executed under the Hybrid Annuity Model (HAM). The first project involves developing a four-lane economic corridor between Bowaichandi and Guskara-Katwa Road (Km 89.814 to Km 133) of NH 116A (Package-3). This project is valued at Rs 13.91 billion, excluding GST, and is expected to be completed within 910 d..

Next Story
Infrastructure Energy

Tata Power, Jakson, Ashoka Buildcon lead solar EPC market in 1H 2024

Tata Power Solar, Jakson Green, and Ashoka Buildcon have emerged as the top utility-scale solar engineering, procurement, and construction (EPC) providers in India during the first half (1H) of 2024, according to Mercom India’s Solar Market Leaderboard for 1H 2024. Gensol Engineering and InSolare Energy also secured spots in the top five. Tata Power Solar led the market with a 32.7% share, followed closely by Jakson Green at 32.1%, while Ashoka Buildcon claimed the third spot with 6.5%. Gensol Engineering and InSolare Energy accounted for 6.2% and 5.1% of the market, respectively. Together..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000