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Waa Solar Limited IPO (Waa Solar IPO) Detail

May 31, 2018 - June 4, 2018

Waa Solar IPO is a fixed price issue of Rs 28.18 crores.

Waa Solar IPO bidding started from May 31, 2018 and ended on June 4, 2018. The shares got listed on BSE SME on June 12, 2018.

Waa Solar IPO price is ₹161 per share. The minimum lot size for an application is 800 Shares. The minimum amount of investment required by retail investors is ₹128,800.

Guiness Corporate Advisors Pvt Ltd is the book running lead manager of the Waa Solar IPO, while Bigshare Services Pvt Ltd is the registrar for the issue.

Refer to Waa Solar IPO RHP for detailed information.

Waa Solar IPO Details

IPO Date May 31, 2018 to June 4, 2018
Listing Date June 12, 2018
Face Value ₹10 per share
Price ₹161 per share
Lot Size 800 Shares
Total Issue Size1,750,000 shares
(aggregating up to ₹28.18 Cr)
Issue Type Fixed Price Issue IPO
Listing At BSE SME
Market Maker portion104,000 shares

Waa Solar IPO Reservation

Waa Solar IPO offers 1,750,000 shares. 823,000 (47.03%) to NII, 823,000 (47.03%) to RII.

Investor Category Shares Offered
Anchor Investor Shares Offered-
Market Maker Shares Offered104,000 (5.94%)
Other Shares Offered823,000 (47.03%)
Retail Shares Offered823,000 (47.03%)
Other Shares Offered104,000 (5.94%)
Total Shares Offered1,750,000 (100%)

Waa Solar IPO Lot Size

Investors can bid for a minimum of 800 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.

Application Lots Shares Amount
Retail (Min) 1 800 ₹128,800
Retail (Max) 1 800 ₹128,800
Lot Size Calculator

About Waa Solar Limited

Incorporated in 2009, Gujarat based Waa Solar Limited is a company engaged in solar power generation by setting up Solar Power Project and by investing in Special Purpose Vehicle ("SPV") associate and subsidiaries companies which are engaged in solar power generation activities.

In 2010, Gujarat Urja Vikas Nigam Limited ("GUVNL") has awarded the company the work of setting up of Solar Photovoltaic Grid Interactive Power Plant of 10MW capacity at village Nayka, Taluka-Sami, District Patan, to produce the Electric Energy and for sale of entire electrical energy, so produced, for commercial purpose from such project to GUVNL for a tenure of 25 years. GUVNL has entered into Power Purchase Agreement ("PPA") and agreed to purchase such power through distribution companies ("Discom").

In 2013, Airport Authority of India, has entered into PPA with the company for setting up a solar power plant of 100 KWP at Raja Bhoj Airport, Bhopal on Built, Own and Operate ("BOO") basis for a tenure of 25 years.

Company Financials

Summary of financial Information (Restated)
Particulars For the year/period ended (in Rs. Lakhs)
31-Mar-17 31-Mar-16 31-Mar-15 31-Mar-14 31-Mar-13
Total Assets 20,018.99 19,806.98 21,882.07 18,113.28 15,908.92
Total Revenue 2,607.24 4,689.97 5,426.30 2,900.85 2,773.49
Profit After Tax 427.50 633.98 1,152.70 538.07 828.28

Objects of the Issue (Waa Solar IPO Objectives)

The present Public Issue of 20,00,000 Equity Shares includes a Fresh Issue of 17,50,000 Equity shares and an offer for sale by the Selling Shareholder of 2,50,000 equity shares at an issue price of ` 161 per Equity Share.
The Offer for Sale: The Company will not receive any proceeds from the Offer for Sale.
Fresh Issue: The objects of the Issue are:
1. Investment in Subsidiary Companies
2. General Corporate Purpose,
3. Meeting Public Issue Expenses.

Waa Solar IPO Review (May apply)

[Dilip Davda]  Although on prima facie issue appears aggressively priced, considering market value terms, investors may consider investment for long term. Read detail review...

Waa Solar IPO Subscription Status (Bidding Detail)

The Waa Solar IPO is subscribed 1.85 times on June 4, 2018 5:00:00 PM. The public issue subscribed 2.84 times in the retail category, times in the QIB category, and 0.85 times in the NII category. Check Day by Day Subscription Details (Live Status)

CategorySubscription (times)

Waa Solar IPO Prospectus

Waa Solar IPO Rating

Rating:Rated 4.0 stars
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Waa Solar IPO Listing Details

Listing Date June 12, 2018
BSE Script Code 541445
NSE Symbol
ISIN INE799N01012
Final Issue Price ₹161 per share

Pre-Open Session - BSE

Listing Day Trading Information

Price Details
Final Issue Price
Last Trade

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Waa Solar Limited Contact Details

Waa Solar Limited
Madhav House,
Nr. Panchratna Building,
Subhanpura, Vadodara, Gujarat -390023
Phone: 0265 -2290722

Waa Solar IPO Registrar

Bigshare Services Pvt Ltd

Phone: +91-22-6263 8200

Waa Solar IPO - Buy or Not

Waa Solar IPO Recommendation Summary

Review By Subscribe Neutral Avoid
Brokers 1 0 0
Members 0 0 0

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Waa Solar IPO FAQs

Waa Solar IPO is a SME IPO of 1,750,000 equity shares of the face value of ₹10 aggregating up to ₹28.18 Crores. The issue is priced at ₹161 per share. The minimum order quantity is 800 Shares.

The IPO opens on May 31, 2018, and closes on June 4, 2018.

Bigshare Services Pvt Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE SME.

The Waa Solar IPO opens on May 31, 2018 and closes on June 4, 2018.

Waa Solar IPO lot size is 800 Shares, and the minimum amount required is ₹128,800.

You can apply in Waa Solar IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.

The finalization of Basis of Allotment for Waa Solar IPO will be done on [.], and the allotted shares will be credited to your demat account by [.]. Check the Waa Solar IPO allotment status.

The Waa Solar IPO listing date is on June 12, 2018.
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Waa Solar IPO Message Board

Ranked Members of Forum  Ranked Members | Members with Most Likes



49. Abhishek Shahi |   Link |  Bookmark |August 24, 2018 7:43:51 PM
investor lost they money in this. huge loss
48. Global Asia |   Link |  Bookmark |July 23, 2018 1:47:08 PM
Dear All Friends,

We All Are In Traped Pramoter And Lead Manager Gamble And Lost Our Seventy Percent Of Amount. I Read Two news Article And It Written that All Fraud make insider And Lost investor Money.
Find Given Below SEBI Complain Link. Do ASAP And Complain Against Pramoter And Lead Manager For Lossing Investor Money.
48.1. black & white hat |   Link |  Bookmark |July 23, 2018 2:28:38 PM
Most of SMEs, small cap and mid cap are down's due to government policies and SEBI rules (LTCGT and mutual fund classification)
48.2. Global Asia |   Link |  Bookmark |July 23, 2018 7:37:51 PM
Dear Friends,
u Are Right For Most Of SME/Small Cap And Mid Caps Down But No One Down Seventy Percent Within Month after Listing. Its All Making Fraud by pramoter And Lead Manager.
47. VINIT MUNDRA |   Link |  Bookmark |July 21, 2018 10:40:15 AM
i hv track all thing of this company its clearly indicates some fraud done my the promoter even actual sales in books are inflated all thing to trap small investor . We should unite and mail regular to bse head

for refund our money with intetest
47.1. Kirti |   Link |  Bookmark |July 22, 2018 2:53:20 PM
Pls gide Me To Camplane Again Company i am sending sebi or Register or campani To RTI Pls Gide
46. IPOANALYSIS |   Link |  Bookmark |July 12, 2018 12:48:57 PM
MSG from company. Does anyone have more details on this

The Share Purchase Agreements shall be executed by the company when the lenders of M/s.
Madhav Solar (Karnataka) Pvt. Ltd. will accept Vatsala Group as new borrower or Vatsala Group
are able to arrange new lenders. Whenever the agreements are executed, the same will be
informed to the exchange as per the SEBI (LODR) Regulations, 2015 and necessary formalities
will be done by the Company.
On completion of the transaction, the Company will accrue a 1.6 times valuation or a 60 percent
profit on the present value of its shareholding in Madhav Solar (Karnataka) Private Limited thus
improving its cash flow position for it to invest in / acquire future solar assests.
We want to take this opportunity to thank all our shareholders and reassert that WAA Solar
Limited has always focused on maintaining a sustained business growth and to always act in the
best interests of our shareholders.
46.2. AmanSingh |   Link |  Bookmark |July 14, 2018 12:35:06 AM
Is it a good signal or bad because we both are in loss, we had paid 161 per equity share?
46.3. IPOANALYSIS |   Link |  Bookmark |July 14, 2018 1:48:46 AM
if they sell part of subsidiary it is good as it will generate revenue and profits this qtr.
45. IPOANALYSIS |   Link |  Bookmark |July 3, 2018 11:40:33 AM
There has been bulk buying and all of them are buyers. almost abount 7 crore amount .
check guiness ,jhaveri trading house bought shares.
this shuld have stabilized but this did not happen
if this holds true than in NII section someone has been alloted shares in huge chunk and maybe paid in cash to sail through the issue.he is selling shares.
it is almost impossible otherwise why would anyone sell shares then at huge loss. there has been nothing wrong in business yet
45.4. Small Investor |   Link |  Bookmark |July 5, 2018 2:43:38 PM
IPO Guru IPO Guru (2100+ Posts, 1100+ Likes)
@amansingh ji now you Average this stock at this level
45.5. Small Investor |   Link |  Bookmark |July 6, 2018 10:59:21 AM
IPO Guru IPO Guru (2100+ Posts, 1100+ Likes)
sold @ 63.80 one lot buy yes. @ 58
44. Small Investor |   Link |  Bookmark |July 5, 2018 9:23:08 AM
IPO Guru IPO Guru (2100+ Posts, 1100+ Likes)
buy @ 58 today
43. IPOANALYSIS |   Link |  Bookmark |July 2, 2018 3:46:01 PM
make compolaint with SEBI. they must have internally sold shares whoserver made fake subscription in HNI and causing loss to retailers

it is not possible normally other individual selling at huge loss
they collected 32 crore and now total market cap of coompany is 40 crore which is impssoble in 2 weeks of listing

defintely mark to SEBI and ask for refund of money if there is illegal trading happening which company has defintely made in pre ipo by placing shares to individual and like pledged shares who are selling now
43.14. IPOANALYSIS |   Link |  Bookmark |August 20, 2018 10:38:18 PM
Leave it with sebi. They can't close the ticket without checks. Company should allow 20 pc circuit now. When it was falling it did allow 20 pc and now when going up it's not changing back to 20. Strange. This is seen in many companies
43.15. Small Investor |   Link |  Bookmark |August 22, 2018 3:20:24 PM
IPO Guru IPO Guru (2100+ Posts, 1100+ Likes)
this stock 20% circut m kb aayega
42. IPOANALYSIS |   Link |  Bookmark |June 28, 2018 11:01:23 AM
Shame on guiness as well .they too now are on league of same bad lead manager. Looks like only panthomath is true winner. Have not seen a sme getting halved so quickly. What a shame guineas. Now they will have same fate like others where there new subscription would not go through
Something sebi should make check against these lead manager
42.4. IPOANALYSIS |   Link |  Bookmark |June 29, 2018 7:27:20 PM
No just wait and watch. Why this stock has been hammered would need to be checked. This stock need to be stable first .
42.5. ramesh patel |   Link |  Bookmark |June 30, 2018 3:01:42 AM
Don't buy this stock . Everybody cheated with every investor . Grey market operator makes fools n run away. Jignesh thobhani is name n number nine eight nine eight four nine four eight five seven .
41. IPOANALYSIS |   Link |  Bookmark |June 13, 2018 2:40:32 PM
though Guiness has failed again on listing so no use to apply in the primary market when can easily get at discount

i would say company is doing good.
those whi have patience for 3-6 months can get good return . its for long term investors
40. IPOANALYSIS |   Link |  Bookmark |June 13, 2018 12:39:37 PM
Offcourse a big shame for guiness

despite good cpmany no buyers.

shame of Guiness as most pf its issues have failed to retain issue price now

hope it does not come up with new issues now but as people have short term memory.
i can bet they will come up with many issues during next month to loot public again,

looters lead manager
39. VINIT MUNDRA |   Link |  Bookmark |June 13, 2018 2:21:11 AM
guinesss......very bad
.....kal ek aur disaster.....awaiting......
38. spars |   Link |  Bookmark |June 12, 2018 9:41:08 AM
Disastrous listing man
38.2. IPOANALYSIS |   Link |  Bookmark |June 12, 2018 9:54:59 AM
What recovery. It is still at discount and available so why people applied in primary market. The subject 2 premium was shown as 12000 which clearly shows how the lead manager make foolish of people. I am requesting everyone stop applying new sme .check the record of recent primary market .if u stop apply u will be doing good for SME as not many new issues will come up by LM and they will know how to price IPO correctly. Moreover the secondary market should give return.when ethey are available at discount why greedy retailer are apply new many of u have actually made money in last 40 sme or past 2 months.if not then stay away
38.3. spars |   Link |  Bookmark |June 12, 2018 5:17:03 PM
Sir u made a right point, but me too not wrong...
Indicative price wen I saw was hanging around Rs 135 settled at Rs 158,
from 135 to 158 I mean a good recovery .

Just imagine!
if listed @ 135 would have join UHZ.

BTW didn't applied since mid April, because of lack of heavy subscriptions and many other factors.
37. Sinewave |   Link |  Bookmark |June 12, 2018 10:46:18 AM
IPO Mentor IPO Mentor (600+ Posts, 300+ Likes)
Recovery only possible if LM comes to support. Otherwise no rescue possible. OMG all retailer want to sell at any cost.
37.2. Umang and his ultrasonic uproar |   Link |  Bookmark |June 12, 2018 1:53:16 PM
IPO Guru IPO Guru (1000+ Posts, 700+ Likes)
Solar companies has never given any positive returns to investors in past 1 year. There were 4 SME issues (of solar companies) all are trading in discount. ????????????????????????????
37.3. IPOANALYSIS |   Link |  Bookmark |June 12, 2018 3:41:02 PM
i have bought at 153 today.
lets see

i want to hold for few months . from all the prvious listed sme in solar this one is different

remember NAV is 223 rs and cost to promoters is also 157.
they are earning monthly rental income also and have 90 acres of land alloted.
any news in solar business expansion will spurt the price.
36. IPOANALYSIS |   Link |  Bookmark |June 12, 2018 10:23:42 AM
For long term this company is good for investment. However my point is why retailer are apply in primary market.let issue remain undersubscribed in retail.teach lead manager a can easily get stocks at discount rates on listing or post listing then why apply new issues.let 50 pc issue get cancelled as happened with Soris foil. Now see u can buy as much as u can at 5 pc why apply ipo
35. VIE |   Link |  Bookmark |June 12, 2018 10:20:07 AM (500+ Posts, 500+ Likes)
34. Sinewave |   Link |  Bookmark |June 12, 2018 9:34:07 AM
IPO Mentor IPO Mentor (600+ Posts, 300+ Likes)
Poor listing expected.

Onwards lower circuit also expected.

Sell in preopen and be safe.
33. IPOANALYSIS |   Link |  Bookmark |June 12, 2018 9:33:31 AM
Gujarat based company. Hahahaha
32. Sinewave |   Link |  Bookmark |June 12, 2018 9:31:05 AM
IPO Mentor IPO Mentor (600+ Posts, 300+ Likes)
Listing today.

Company name: *Waa Solar LTE*
Platform: *BSE SME*
Scrip Code : *541445*
Symbol: *WAA*
Lot size : 800
Group: MT (for 10 days including listing day)
31. IPOANALYSIS |   Link |  Bookmark |June 12, 2018 9:21:39 AM
Hahah all those subject 2 are fake. Even the 3 panthomath issues opened will meet same fate
30. IPOANALYSIS |   Link |  Bookmark |June 12, 2018 9:13:43 AM

If this fails Guiness would not be able to come with new sme anytime soon. Hope guiness does not follow navigant or first overseas