Waaree Energies gets approval by SEBI for Rs 30 billion IPO

Waaree Energies Limited has received approval from SEBI to issue its initial public offering (IPO) of Rs 30 billion. The IPO comprises up to Rs 30 billion fresh equity issue and 3.2 million equity shares for offer for sale (OFS) each at Rs 10 face value. Of the total shares in OFS, 50,000 equity shares are owned by Samir Surendra Shah, 450,000 shares are owned by Chandrakar Investments, and the remaining 2.7 million are owned by Waaree Sustainable Finance. Waaree filed the draft IPO papers in December 2023.Loans