π₯π Waaree Energies IPO: A New Opportunity for Investors ππ₯
π° If you’re considering investing in an IPO, here’s some great news for you! Another energy company is soon going public to raise funds. Saur panel manufacturer Waaree Energies has announced that it will be raising capital through an IPO. The company submitted the necessary documents to the Securities and Exchange Board of India (SEBI) on Friday.
πΈ The IPO will consist of new equity shares worth βΉ3,000 crores and an offer for sale of 32 lakh equity shares by promoters and existing shareholders, according to the documents submitted to the regulator.
π How will the funds be utilized? The funds raised through the IPO will be used to establish a 6-gigawatt solar cell and solar PV module manufacturing facility in Odisha. Additionally, a portion of the funds will be utilized for general corporate purposes. Waaree Energy is a leading company in the solar energy industry in India.
π IPO Delayed but Strong Market Expected in 2024 π
πΉ The IPO, which was initially planned for September 2021, was postponed due to increasing interest rates and geopolitical risks. However, the IPO market is expected to remain strong in 2024. Despite an increase in the number of IPOs, the amount raised through primary share sales this year is 36% higher than the mega IPO of βΉ20,557 crores by LIC in 2022.
π‘ Emphasizing on Small and Mid-cap Companies π‘
π This year, small and mid-cap companies have performed well during market fluctuations. Experts believe that the IPO market will continue to thrive in 2024, creating opportunities for investors.
Don’t miss out on this chance to invest in the future of solar energy with Waaree Energies IPO! ππ°
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