Is Waaree's IPO a steal? Here's what investors need to know
India TodayWaaree Energies IPO opens for bidding, aiming to raise Rs 4,321.44 crore. The IPO consists of a fresh issue of 2.4 crore shares and an offer for sale of 0.48 crore shares, totaling Rs 721.44 crore. The IPO will be open for subscription until October 23, 2024, with a price band of Rs 1,427 and Rs 1,503 per share. The book-running lead managers for the issue include Axis Capital Limited, IIFL Securities Ltd, Jefferies India Private Limited, Nomura Financial Advisory and Securities (India) Pvt Ltd, SBI Capital Markets Limited, Intensive Fiscal Services Private Limited, and ITI Capital Ltd. The company's IPO report shows strong financials, a high EV/EBITDA ratio, and a discount to its peers. The estimated listing price for the IPO is around Rs 2,983, suggesting a potential gain of 98.47% per share.