Link: https://www.sebi.gov.in/filings/processing-status/sep-2024/processing-status-issues_59558.html
Waaree Energies Limited, the largest manufacturer of solar PV modules in India with the largest aggregate installed capacity of 12 GW, as of June 30, 2023 has received the Securities and Exchange Board of India (SEBI) approval for its proposed initial public offering (IPO).
The Company’s initial public offering comprises a fresh issue of Equity Shares aggregating up to ₹30,000 million and an offer for sale of up to 3,200,000 Equity Shares having face value of ₹10 each.
The offer for sale comprises of up to 2,700,000 Equity Shares by Waaree Sustainable Finance Private Limited (formerly known as Mahavir Thermoequip Private Limited)( Promoter Selling Shareholder), up to 450,000 Equity Shares by Chandurkar Investments Private Limited and up to 50,000 Equity Shares by Samir Surendra Shah (Other Selling Shareholders)
The company proposes to utilize the Net Proceeds towards part financing the cost of establishing the 6GW of Ingot Wafer, Solar Cell and Solar PV Module manufacturing facility in Odisha, India as well as for general corporate purposes.
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 Book Running Lead Managers to the issue.