Waaree Energies IPO Allotment Update: The Waaree Energies IPO, open for subscription from October 21 to October 23, has created a buzz among investors with its fixed price range of ₹1,427-₹1,503 per share.
Waaree Energies IPO: As investors await the share allotment, the Grey Market Premium (GMP) has surged to ₹1,560 per share, indicating potential gains of over 104%.
With the share allotment eagerly awaited, Waaree Energies is set for a potential multibagger listing, as indicated by the soaring Grey Market Premium (GMP), which has risen to ₹1,560 per share. This signals potential gains of over 104% for investors, making it one of the most anticipated IPOs of the year.
Key IPO Details:
- Subscription Dates: October 21 – October 23
- Price Range: ₹1,427 – ₹1,503 per share
- Minimum Lot Size: 9 shares
- IPO Size: ₹4,321.44 crore
- Fresh Issue: ₹3,600 crore
- Offer for Sale (OFS): Up to 48 lakh equity shares
Oversubscription and Investor Response: The IPO saw significant demand, being oversubscribed 76.34 times. Qualified Institutional Buyers (QIBs) led the charge, with their portion oversubscribed 208.63 times. Non-Institutional Investors (NIIs) followed closely, with a 62.49 times oversubscription, while retail investors booked their portion 10.79 times. Even employees showed strong interest, with 5.17 times subscription to their allocated shares.
Company Overview: Founded in 1990, Waaree Energies is a leading solar PV module manufacturer in India with a massive 12 GW production capacity. Their product line includes multicrystalline, monocrystalline, and TopCon modules, positioning them as a key player in India’s solar energy sector.
Brokerage Outlook: Brokerages are optimistic about the IPO, highlighting the company’s robust financials, its leading position in the solar power market, and its strong growth potential. However, some concerns were noted, particularly regarding Waaree Energies’ dependence on Chinese raw materials, a limited supplier base, and the impact of potential policy shifts.
How to Check Waaree Energies IPO Allotment Status:
Via BSE:
- Visit the BSE website.
- Select “Equity” under issue type.
- Choose “Waaree Energies Limited” from the dropdown.
- Enter your application number and PAN ID.
- Complete the captcha and hit search.
Via Link Intime India:
- Visit the Link Intime India website.
- Select the IPO and choose your identification type: application number, Demat number, or PAN.
- Enter the relevant details and captcha, then click submit.
Link Intime India, the Sebi-registered registrar, is responsible for overseeing the share allotment process and ensuring timely refunds and resolution of investor queries.
Stay tuned for more updates on Waaree Energies’ IPO and its market performance post-listing!
