Record subscription for the upcoming IPO of this green energy company, can you also get profit?

Record Subscription for Upcoming IPO of Green Energy Company

The initial public offering (IPO) of Vaari Energies Limited has garnered significant investor interest, closing with 97.34 lakh applications by October 23. This makes it the most subscribed and book-building IPO ever in India, surpassing the previous record of 90 lakh applications held by Bajaj Housing Finance.

Vaari Energies’ IPO raised approximately ₹4,321.44 crore, with bids for 160.91 crore shares against an offer of 2.1 crore shares. This impressive subscription rate comes despite challenging market conditions, indicating robust interest from investors.

Strong Financial Growth and Market Position

Vaari Energies has shown remarkable growth, with revenue reaching ₹11,632.76 crore in FY24, a 69% increase from FY23. The net profit surged by over 154% year-on-year to ₹1,274.38 crore, highlighting the company’s solid financial health and dominant market position as the largest PV module manufacturer in India.

Successful Subsidiary Performance and Diverse Business Models

Vaari Renewables Technologies, a listed subsidiary, has delivered impressive returns, boosting investor confidence in the parent company. Vaari Energies employs both conventional and advanced technologies for PV module manufacturing and offers various renewable energy services.

IPO Listing Date

Vaari Energies Limited’s shares will be listed on the NSE and BSE on October 28, 2024, further attracting attention due to the company’s strong growth potential and large order book.