Waaree Energies Stock Price :Waaree Energies, the country’s largest solar module manufacturing company, has made a strong entry in the stock market. The company’s shares were listed on BSE at Rs 2550, while the IPO price was Rs 1503. In this sense, the company’s stock has given a return of 70 percent or Rs 1047 per share on its listing. This IPO was subscribed 79.44 times overall. At the same time, its gray market premium also remained continuously high. At present, this IPO has been included in the superhit IPO of the year 2024. The question is what should be the stock strategy going forward.
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Strong subscription of 79.44 times
The IPO of Waari Energies was subscribed overall 79.44 times or 7944 percent. The size of the IPO was Rs 4321 crore, while it received total bids of Rs 2,41,857 crore. The 50 per cent portion reserved for qualified institutional buyers was filled a total of 215 times. Whereas the reserved 15 percent portion for non-institutional investors was filled a total of 65.25 times. At the same time, the reserve portion of 35 percent for retail investors was filled 11.27 times and the reserve portion for employees was filled 5.45 times.
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Waaree Energies: Company Outlook
Waaree Energies’ portfolio of solar energy products includes PV modules: Multi-crystalline modules, Monocrystalline modules and Topcon modules. It also includes flexible modules, including bifacial modules (mono PERC) (framed and unframed) and building integrated photovoltaic (BIPV) modules. The company has strengthened its market position through extensive capacity expansion, backward integration and strategic international growth. At the same time, it has prepared itself to take advantage of new opportunities and meet the increasing demand at domestic and global level.
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The share of commercial and industrial sector in rooftop solar energy installations is 70 to 80 percent. On the financial front, the company’s revenue from operations grew at a CAGR of 99.8 percent from FY22 to FY24. Whereas the company’s profit increased to Rs 12743.77 million in FY24 compared to Rs 796.50 million in FY22. Whereas return on equity (ROE) increased from 17.69 percent to 30.26 percent. The company’s global expansion, competitive pricing and strong order book ensure revenue stability, business continuity and sustainable growth while optimizing sourcing and supply chain costs across the globe. (Source: BP Wealth)
(Disclaimer: The advice to invest in stocks has been given by the brokerage house. These are not the personal views of Financial Express. There are risks in the market, so take expert opinion before investing.)
