Those offering shares in the OFS are– marketer Waaree Sustainable Finance Private Ltd and investor Chandurkar Investments Private Ltd.
Solar panel manufacturer Waaree Energies is preparing to drift its preliminary share sale on October 21 including fresh problem of shares worth Rs 3,600 crore.
Solar panel manufacturer Waaree Energies is preparing to drift its preliminary share sale on October 21 including a fresh problem of shares worth Rs 3,600 crore.
The Mumbai- based firm’s Initial Public Offering (IPO) will certainly end on October 23 and the bidding process for support financiers will certainly open up for a day on October 18, according to the Red Herring Prospectus (RHP).
As per the files, the IPO is a mix of a fresh problem of equity shares accumulating to Rs 3,600 crore and an Offer For Sale (OFS) of 48 lakh equity shares by a marketer and existing investors, according to the Draft Red Herring Prospectus (DRHP).
Those offering shares in the OFS are– marketer Waaree Sustainable Finance Private Ltd and investor Chandurkar Investments Private Ltd.
Proceeds from the fresh problem will certainly be made use of for establishing the 6GW (gigawatt) of Ingot Wafer, Solar Cell and Solar PV component production center inOdisha Besides, a part will certainly be made use of for basic company objectives.
Waaree Energies, among the significant gamers in the solar power sector in India, is concentrated on PV component production with an accumulation mounted capability of 12 GW since June 30, 2023.
It runs 5 production centers with one manufacturing facility each, situated at Surat, Tumb, Nandigram and Chikhli in Gujarat, and the IndoSolar Facility, in Noida, Uttar Pradesh.
Earlier, the firm had actually submitted initial documents with Sebi in September 2021, for drifting an IPO however delayed the initial public problem. The problem made up a fresh problem of equity shares accumulating to Rs 1,350 crore and an OFS of 40,07,500 equity shares by existing investors and marketers.
Axis Capital, IIFL Securities, Jefferies India, Nomura Financial Advisory and Securities (India) Private Ltd, SBI Capital Markets, Intensive Fiscal Services and ITI Capital are the book-running lead supervisors to the problem.
(This tale has actually not been modified by News18 team and is released from a syndicated information company feed – PTI)
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