Renowned solar panel manufacturer, Waaree Energies, took a significant step towards a potential initial public offering (IPO) by filing preliminary papers with SEBI, the capital markets regulator, on December 28.
The IPO comprises a fresh issue of shares totaling Rs 3,000 crore by the company, along with an offer-for-sale (OFS) of 32 lakh equity shares by existing shareholders.
In the OFS segment, promoter entity Waaree Sustainable Finance (formerly Mahavir Thermoequip) plans to sell 27 lakh shares, while others, namely Chandurkar Investments and Samir Surendra Shah, will collectively offload 5 lakh shares. Currently, promoters maintain a robust 72.32% shareholding in the company, with the remaining 27.68% held by the public.