Waaree Energies, India’s leading manufacturer of solar photovoltaic (PV) modules, has attracted significant attention with its recently concluded Initial Public Offering (IPO). The IPO, which was open for subscription from October 21 to October 23, 2024, raised an impressive ₹4,321.44 crore, and saw overwhelming demand from investors, being oversubscribed 79.44 times. The strong interest from Qualified Institutional Buyers (QIBs) and Non-Institutional Investors (NIIs) underlines the market’s confidence in Waaree Energies’ growth story, driven by India’s expanding solar energy sector.
IPO Allotment Date and Key Milestones
As investors eagerly await the next steps, the IPO allotment status will be available on October 24, 2024. If you’ve applied for the IPO, you can check the status of your application online through three main platforms: Link Intime India, BSE, and NSE. Here’s a step-by-step guide on how to check your allotment status through each portal:
1. Checking Allotment Status on Link Intime
Link Intime India is the official registrar for Waaree Energies’ IPO. To check your application status:
- Visit Link Intime’s Allotment Page.
- Select Waaree Energies from the company dropdown list.
- Enter one of the following details: PAN number, Application Number, or DP/Client ID.
- Click Submit to view your allotment status.
2. Checking Allotment Status on BSE
If you prefer to check your status through the BSE (Bombay Stock Exchange) website:
- Go to BSE IPO Application Status.
- Choose Equity as the issue type and select Waaree Energies from the list of issues.
- Enter either your Application Number or PAN.
- Click Search to see if you’ve been allotted shares.
3. Checking Allotment Status on NSE
For checking the status on NSE (National Stock Exchange):
- Visit the NSE IPO Allotment Page.
- If you haven’t done so already, register by providing your PAN details.
- Once registered, you can log in and check the status of your application.
Waaree Energies GMP Hints at Strong Listing Gains
The Grey Market Premium (GMP) for Waaree Energies IPO has been a hot topic among investors. As of October 24, 2024, the GMP stands at a whopping ₹1,560, which suggests a potential listing price of ₹3,063 per share. This would translate to an impressive 103.79% premium over the IPO’s upper price band of ₹1,503, signaling a highly anticipated strong listing on both the BSE and NSE on October 28, 2024.
Waaree Energies: A Solar Powerhouse with Impressive Growth
Waaree Energies has positioned itself as the largest manufacturer of solar PV modules in India, with a rapidly expanding presence in the solar energy space. According to reports, the company’s sales and profit after tax (PAT) have grown at compound annual growth rates (CAGR) of 100% and 277%, respectively, between FY22 and FY24. These figures highlight the company’s solid financials, underpinned by its increasing production capacity and improving operational efficiency.
In FY24, Waaree Energies achieved EBITDA margins of 13.8%, with a Return on Capital Employed (RoCE) of 22%. At the upper end of the price band, the company is valued at 35x P/E and 22.4x EV/EBITDA—metrics that reflect its strong financial health and attractive valuation compared to competitors like Premier Energies.
What’s Next for Waaree Energies Investors?
With the allotment announcement on October 24, the next important dates for investors are October 25, when refunds or credits of shares to Demat accounts will occur, and October 28, when the shares are expected to list on the BSE and NSE. Given the strong demand and the high grey market premium, investors can expect robust listing gains, making this IPO one of the most eagerly awaited of the year.
Waaree Energies’ IPO has garnered widespread attention due to its dominant position in the solar energy sector and its impressive financial performance. With the company’s growth trajectory and favorable industry dynamics, investors are hopeful for a strong debut on the stock exchanges. Whether you’re a seasoned investor or a newcomer to the market, now is the time to check your allotment status and prepare for what could be a rewarding listing day on October 28, 2024.
Don’t forget to check your allotment status on October 24, and keep an eye on Waaree Energies as it gears up for its much-anticipated stock market debut!
Disclaimer:
The information provided in this blog is for educational and informational purposes only. It is not intended as investment advice, nor does it constitute a recommendation to buy, sell, or hold any securities. While efforts have been made to ensure the accuracy of the information provided, we do not guarantee its completeness, accuracy, or timeliness. Stock market investments are subject to market risks, including potential loss of capital, and past performance is not indicative of future results. Investors should conduct their own research or consult with a qualified financial advisor before making any investment decisions. We are not responsible for any actions taken based on this information.
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