This IPO has made a lot of pomp in the gray market, will get a chance to invest money from tomorrow

New Delhi. The IPO of Solar PV Module -making company Wari Energy Limited is going to open tomorrow i.e. October 21. The company wants to raise Rs 4,321.44 crore from this IPO. In this IPO, investors can invest money till 23 October. The company raised Rs 1,276.93 crore from anchor investors on 18 October. The listing of Wari IPO is likely to be held on BSE and NSE on October 28. Even before the launch of the IPO, unlisted shares of Wari Energy in the gray market are making a big bang and trading at 97.80 percent premium. Funds raised from this IPO will be used for partial financial finance and general corporate purposes of 6GW Ingot Wafar, Solar Sale and Solar PV Module Manufacturing Facility and general corporate purposes in the company Odisha.

The price band of the IPO of Wari Energy has been fixed at Rs 1427-1503 per share. It has a lot size of 9 years. 2.4 crore new shares worth Rs 3,600 crore will be issued in IPO and 48 shares of Rs 721.44 crore will be offered for SAIL (OFS). For 50% of qualified institutional buyers of Wari Energy IPO, 35% is reserved for retail investors and the remaining 15% is reserved for non-institutional investors.

Financial status of Wari Energy

Promoters of the company are Hitesh Chimanlal Doshi, Viren Chimanlal Doshi, Pankaj Chimanlal Doshi and Wari Sustainable Finance Private Limited. In FY 2023-24, the revenue of Wari Energy increased by 70% to Rs 11,632.76 crore. A year ago it was Rs 6,860.36 crore. The net profit increased by 155% to Rs 1,274.38 crore, which was Rs 500.28 crore in FY 2023. In the April-June 2024 quarter, the company’s revenue was Rs 3,496.41 crore and a net profit of Rs 401.13 crore was recorded.

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