The modules are scheduled to be supplied in the next financial year 2025-26, Waaree Energies said
Emkay Institutional Equities analysts suggested that a Republican sweep may trigger an initial rally and short-term boost for India from foreign inflows, though sustained gains will depend on earnings growth and stable valuations amidst challenges.
With the listing of the group’s solar cell manufacturing arm Waaree Energies on Monday in Mumbai, Doshi and his family have joined the ranks of the world’s richest people.
Waaree Energies IPO has opened for subscription, garnering strong demand in the grey market, signalling positive sentiment among potential investors. The solar panel manufacturer has fixed a price band of ₹1,427-1,503 per share. Investors can bid for one lot of nine shares and then in multiples of nine. At the upper price band, the company aims to garner `4,321 crore, which includes a fresh issue of shares worth ₹3,600 crore, along with an Offer for Sale (OFS) component of 48 lakh equity shares. Ahead of the IPO opening, the company has garnered about ₹1,277 crore from 92 anchor investors. Marquee investors such as Morgan Stanley, Blackrock, Goldman Sachs, CLSA Global Markets, Canara Robeco MF, Franklin India, and Invesco India, among others, participated in the anchor book. Catch Nandita Khemka in conversation with the management on future growth and expansion plans.
Currently, Waree's unlisted price was trading at Rs 2,700-2,750 a share in unlisted markets