Waaree Energies shares slide over 6% even as co secures 180 Mwp module supply order
Waaree Energies fell by 6.4% to their day’s low of Rs 3,400.50 even as the company secured an order for supply of modules upto 180 Mwp from a renowned customer engaged in the business of owning, developing and operating renewable power projects in India.
The supply of modules is scheduled to commence at the end of November 2024 and complete in Q4 of FY 2025, the company said in an exchange filing.
On Wednesday, Waaree Energies' market capitalization surpassed Rs 1 lakh crore.
The stock, which debuted on October 28 at Rs 2,550 on the BSE—representing a premium of 69.7% over the IPO issue price of Rs 1,503—has surged by about 49% in the past week amid sustained buying in the solar power sector.
The Rs 4,321 crore IPO received an overwhelming response, attracting bids worth Rs 2.41 lakh crore and garnering 97.34 lakh applications—the highest for any IPO in India's primary market history.
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