India’s solar sector received a major boost with the highly anticipated Waaree Energies IPO, now valued at ₹4,321.44 crore, which concluded its allotment on October 25, 2024. With shares set to list on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on October 28, investors are keen to know if the GMP-fueled predictions will live up to the expectations. Here’s a look at everything you need to know about Waaree Energies’ IPO allotment, expected listing price, and investment strategy.
A Look Back: Waaree Energies IPO Highlights
- IPO Size: ₹4,321.44 crore
- Price Band: ₹1,427 to ₹1,503 per share
- Subscription: The IPO was open from October 21-23, 2024, and was oversubscribed by an impressive 79.44 times, mainly driven by strong demand from Qualified Institutional Buyers (QIBs) and Non-Institutional Investors (NIIs).
- Allotment Date: October 25, 2024
- Listing Date: October 28, 2024, on BSE and NSE
Waaree Energies: GMP and Projected Listing Price
The Grey Market Premium (GMP), which provides a glimpse into the potential demand and expected listing performance, is showing promising signs. As of October 26, 2024, the IPO’s GMP is holding steady at ₹1,075, suggesting a listing price of approximately ₹2,578 per share. This estimation provides a projected gain of around 71.52% based on the upper price band of ₹1,503, reflecting robust interest and market optimism surrounding Waaree Energies.
Checking Waaree Energies IPO Allotment Status
Investors who applied for the IPO can quickly check their allotment status using three main platforms:
- Link Intime (Registrar):
- Visit Link Intime’s Allotment Status Page
- Steps: Select “Waaree Energies” from the dropdown, enter your PAN/Application Number/Client ID, and hit “Submit” to view your allotment status.
- BSE:
- BSE Allotment Status
- Steps: Select “Equity” as the issue type, choose “Waaree Energies” in the Issue Name, enter your PAN or Application Number, and click “Search.”
- NSE:
- NSE Allotment Status
- Note: First-time users need to register using their PAN on NSE to access the allotment details.
Market Buzz & Expected Listing Strategy
1. For Long-term Investors:
According to Shivani Nyati, Head of Wealth at Swastika Investmart Ltd, long-term investors may find holding Waaree Energies beneficial. The company’s robust position as India’s leading manufacturer of solar PV modules, coupled with its ambitious expansion plans and the growing focus on renewable energy, presents an excellent growth story. Nyati suggests that investors who receive an allotment should consider holding the stock, as Waaree Energies has the potential for sustained growth in an increasingly clean-energy-focused market.
2. For Short-term Investors:
Short-term investors looking for an immediate gain may find a strong listing day an attractive opportunity to book partial profits. With an estimated listing price of ₹2,578 based on the GMP, selling part of the holding could help lock in profits in case of market volatility. However, it’s essential to monitor the market sentiment on listing day as price movements can vary.
Waaree Energies IPO: A Strong Contender in Solar Energy
Waaree Energies’ IPO has received an overwhelming response, underscoring investor confidence in the solar industry’s growth potential. As the largest solar PV module manufacturer in India, Waaree is poised to leverage both its market leadership and the broader shift towards renewable energy, driven by supportive government policies and rising demand for clean energy solutions.
Final Thoughts
The Waaree Energies IPO listing is likely to bring substantial gains for investors, with a potential debut gain of over 71%. Whether you’re a long-term investor banking on the clean energy transition or a short-term investor eyeing listing day gains, Waaree Energies offers an exciting opportunity in India’s burgeoning renewable sector. For those considering a stake, a balanced approach is wise—hold for the long term if possible, or book profits partially on listing day for shorter-term gains. Keep an eye on market trends, and enjoy the ride as Waaree Energies takes the solar industry to new heights.
Stay tuned for updates on listing day to see if Waaree Energies shines bright as India’s leading solar player!
Disclaimer: This blog is for informational purposes only and should not be considered financial advice. Investors are encouraged to conduct their own research or consult with a financial advisor before making any investment decisions. Market conditions can change rapidly, and past performance does not guarantee future results. The author and publisher are not responsible for any financial losses or gains resulting from investment actions taken based on this information.
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