Waaree Renewable shares rally 5% as parent entity gets IPO nod

Waaree Renewable shares surged to a 5% upper circuit at Rs 1,990 during Tuesday's trade on the BSE, following the approval of its parent entity, Waaree Energies, for an IPO. The solar PV module manufacturer received approval from Sebi for its IPO, which includes a fresh issue of equity shares aggregating up to Rs 3,000 crore and an OFS of up to 3,200,000 equity shares with a face value of Rs 10 each.