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News on Medial
IPO-bound Waaree Energies' listed unit looks to buy Enel group's India business: CNBC-TV18
Money Control
·
10m ago
Medial
Waaree Renewable Technologies is reportedly planning to acquire Enel Green India, a subsidiary of Italy-based clean energy company Enel Group. Enel Green India has a clean energy portfolio of 760 MW of operational wind and solar power assets. The acquisition is expected to help Waaree Renewable expand its independent power producing platform. JSW Energy is also said to be interested in buying Enel's Indian business. Waaree Energies, the parent company of Waaree Renewable, is set to launch an IPO in October to raise funds for its expansion plans.
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Related News
Enel India deal on the final stretch
Livemint
·
7m ago
Medial
JSW Group, Stonepeak Infrastructure Partners, and Waaree Energies have submitted binding bids for Enel Group's renewable energy business in India. The deal is expected to value the portfolio of wind and solar power assets at around $350-400 million, with total debt raising the enterprise value to over $500-550 million. Enel Green Power India has 760 MW of operational wind and solar power assets, with another 2 GW in development pipeline, making it an attractive opportunity for investors. The deal is anticipated to be finalized by the end of the financial year in March 2025.
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Which Indians became billionaires after their companies' IPOs in 2024?
Inshorts
·
7m ago
Medial
Hitesh Doshi became a billionaire after Waaree Energies' IPO, increasing his wealth to $7.1 billion. Chiranjeev Saluja and Bhavish Aggarwal's wealth rose to $4.7 billion and $2.8 billion after Premier Energies and Ola Electric's IPOs respectively. Emcure Pharma's Satish Mehta, ACME Group's Manoj Upadhyay and Jyoti CNC Automation's Parakram Jadeja also became billionaires after their firms' IPOs.
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ValueQuest-backed Waaree Energies to raise $361 mn in IPO
VCCircle
·
1y ago
Medial
Indian solar panel manufacturer, Waaree Energies, has filed for an IPO to raise INR 30 billion ($361 million). The company plans to issue 3.2 million fresh shares and its largest shareholder, Waaree Sustainable Finance, will sell up to 2.7 million shares. The funds raised will be used for capital expenditure, including the establishment of a 6 GW manufacturing facility in the state of Odisha, India. Waaree Energies also recently announced plans to invest up to $1 billion in a factory in Texas to meet the growing demand for clean energy in the US.
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India's biggest solar panel maker Waaree Energies’ IPO delayed over deemed public offer non-compliance
Money Control
·
11m ago
Medial
Waaree Energies, India's largest solar panel maker, is still awaiting approval from the market regulator for its initial public offering (IPO) due to concerns related to non-compliance with the Companies Act. The company had filed its draft IPO papers in December 2023 but is facing delays as it exceeded the limit of selling shares to more than 200 people without a public offer. Waaree Energies intends to raise capital through the IPO to finance the establishment of a 6GW solar manufacturing facility in Odisha. The company reported significant revenue and profit growth in fiscal year 2023.
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India to see over ₹50,000 crore worth of IPOs soon: Report
Inshorts
·
1y ago
Medial
Indian stock market is likely to see a new wave of IPO rush in the next few months, a report said. Over 30 companies are reportedly planning to list on the stock exchanges with an aim of raising more than ₹50,000 crore. The expected IPOs include Ola Electric, FirstCry, Fincare SFB, NSDL, Waaree Energies, MobiKwik, Allied Blenders, and Emcure Pharmaceuticals.
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boAt plans ₹2,000 crore IPO via confidential filing route: Report
Inshorts
·
5m ago
Medial
Consumer electronics brand boAt plans to file a confidential draft red herring prospectus (DRHP) to raise ₹2,000 crore through an IPO, CNBC-TV18 reported. The company may seek a valuation exceeding $1.5 billion, but the final figures can still change, the report said. In 2022, boAt withdrew its IPO filing due to unfavourable market conditions.
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Eversource Capital offers to buy BluSmart for ₹850 crore
Inshorts
·
3m ago
Medial
Investment firm Eversource Capital has made a non-binding offer to buy ride-hailing startup BluSmart for around ₹850 crore, CNBC-TV18 reported. Under the potential deal, BluSmart founders Anmol and Puneet Singh Jaggi are likely to be asked to step down. BluSmart has suspended operations after SEBI launched a probe into the Jaggi brothers and their firm Gensol Engineering.
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EbixCash’s IPO filing doesn’t disclose an adverse court order
Livemint
·
1y ago
Medial
EbixCash, a unit of Nasdaq-listed Ebix Inc., is preparing for a ₹6,000 crore ($728 million) IPO. However, the company faces issues related to an ongoing arbitration case with Vyoman Tradelink, the original promoter of ITZCash, which EbixCash acquired in 2017 and rebranded as Ebix Payment Services (EPS). The arbitration case resulted in EbixCash being ordered to buy the remaining 20% stake in EPS from Vyoman, a cost that could range from ₹100-200 crore. The case has not been disclosed in the IPO papers. The IPO is critical to Ebix Inc.'s plans to become debt-free this year.
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Hero Future Energies to invest $20 billion to boost renewable energy capacity to 30 GW by 2030
Livemint
·
10m ago
Medial
Hero Future Energies, the power production unit of Hero Group, has announced plans to invest $20 billion to increase its capacity from 1.9 GW to 30 GW by 2030. The capacity expansion will be focused on wind, solar, and battery storage technology. The company expects to commission 3.4 GW of this capacity increase within the next two years. This investment aligns with India's goal of adding 500 GW of clean energy by 2030. Hero Future Energies is also considering a pre-IPO fundraising round, following a previous fundraising of $450 million in 2022.
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Investors look happy: Kamath on Ola, Unicommerce, FirstCry IPOs
Inshorts
·
12m ago
Medial
Entrepreneur Nithin Kamath congratulated Ola Electric, Unicommerce and FirstCry for getting listed and said, "Based on the listing, it looks like investors are happy." "IPOs doing well... incentivize companies to consider an IPO," he said. "If our markets have to grow, we need more homegrown companies to list and also leave something on the table for IPO investors," he added.
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