This Week’s IPOs: Waaree Energies Likely to Buzz Market, Three Other Listings Scheduled

Despite a recent downturn in the Indian equity market, the IPO segment is buzzing with activity as nine new public issues worth ₹10,985 crore are set to open for retail investors from October 21 to 25.

Among these, Waaree Energies’ IPO will be the first to kick off on October 21, offering shares at a price band of ₹1,427 to ₹1,503 each. The solar photovoltaic module manufacturer aims to raise ₹4,321 crore, with ₹3,600 crore as fresh issue and ₹721.44 crore through an offer-for-sale (OFS) of 48 lakh shares.

Promoters Waaree Sustainable Finance and Chandurkar Investment will participate in the OFS. Ahead of the IPO, the company secured ₹1,277 crore from anchor investors on October 18. Competitors in the market include Premier Energies and Websol Energy.

Additionally, the IPO for Deepak Builders and Engineers India will also open on October 21, with a size of ₹260 crore. It consists of a fresh issue of ₹217 crore and an OFS worth ₹42.83 crore. Prior to the IPO, ₹78 crore was raised from five anchor investors.

Godavari Biorefineries will open its ₹555 crore IPO from October 23 to 25. The offering will feature a fresh issue of ₹325 crore and an OFS of 65.26 lakh shares, valued at ₹229.75 crore, from promoters and investor Mandala Capital AG. The price band for the shares is set at ₹334 to ₹352.

Afcons Infrastructure, a Shapoorji Pallonji Group company, will launch its IPO on October 25. The company seeks to raise ₹5,430 crore, with ₹1,250 crore through a fresh issue and ₹4,180 crore via an OFS. The price band will be revealed on October 21.

Several companies in the SME segment will also be offering IPOs next week, including Premium Plast, Danish Power, United Heat Transfer, OBSC Perfection, and Usha Financial Services.

On the listing front, Hyundai Motor India’s historic ₹27,870 crore IPO, the largest ever in India, will list on October 22. Shares of Lakshya Powertech and Freshra Agro Exports from the SME segment are scheduled to begin trading on October 23 and 24, respectively.