The initial public offering (IPO) of Waaree Energies Ltd., one of India’s leading solar photovoltaic (PV) module manufacturers, has taken the stock market by storm. As of October 25, investors are eagerly awaiting the allotment results after the IPO received a historic response, breaking records with its oversubscription rates. With robust demand across investor categories, Waaree’s IPO has set new benchmarks in India’s IPO landscape and is showing strong potential for an impressive stock market debut.
A Historic Subscription
Waaree Energies opened its IPO for subscription from October 21 to October 23, offering shares at a price range of ₹1,427 to ₹1,503 per share. The IPO raised a significant ₹4,321.44 crore through a combination of a fresh issue and an offer for sale (OFS). Investor interest was nothing short of extraordinary, as the IPO was oversubscribed by 76.34 times. This remarkable demand translated into 160.91 crore bids for just 2.10 crore shares, totaling a record-breaking ₹2.41 lakh crore in subscriptions.
Breakdown of Investor Demand
- Retail Investors: The retail category was oversubscribed by 10.79 times, highlighting strong participation from individual investors.
- Non-Institutional Investors (NIIs): This segment showed heightened interest with an oversubscription of 62.49 times.
- Qualified Institutional Buyers (QIBs): Demand from QIBs was especially robust, with an oversubscription of 208.63 times, underscoring confidence from large institutional players.
The Allotment Process and Timeline
Investors who participated in the Waaree Energies IPO are now keen to check their allotment status. The allotment date is today, October 25, with shares set to be credited to successful applicants’ demat accounts. Refunds for those who weren’t allotted shares will also be initiated today.
For those looking to check their allotment status, here’s a quick guide:
How to Check Allotment Status
- On BSE’s Website:
- Visit the BSE allotment page.
- Select “Equity” as the issue type, and choose “Waaree Energies Limited” from the dropdown.
- Enter your Application Number or PAN, verify, and click “Search.”
- On Link Intime’s Website (Waaree’s IPO registrar):
- Go to Link Intime’s allotment page.
- Select “Waaree Energies Limited” in the dropdown menu.
- Input your details (PAN, Application Number, DP ID, or Account Number) and click “Search.”
Grey Market Premium (GMP): A Glimpse into Market Sentiment
Market buzz around Waaree Energies’ shares is strong, as evidenced by its grey market premium (GMP) of ₹1,558 per share, a premium of over 104% relative to the IPO price of ₹1,503. This suggests that Waaree shares could list around ₹3,061 apiece, which is an exciting prospect for investors. Such a high GMP indicates positive investor sentiment and confidence in Waaree Energies’ growth potential and the renewable energy sector at large.
Waaree Energies’ Market Debut: What to Expect
Waaree Energies will debut on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on October 28. The IPO’s success and the high GMP indicate a strong market debut, likely boosted by the company’s established presence in the solar energy sector and its ongoing projects.
Why Waaree Energies Stands Out:
- Established Track Record: Waaree Energies is a major player in solar PV manufacturing, and its large-scale projects cater to both domestic and international markets.
- Rising Demand for Renewable Energy: With India’s emphasis on green energy, Waaree’s expansion plans align well with national energy goals, making it an attractive long-term investment.
Final Thoughts
The Waaree Energies IPO has shown unprecedented demand, underscoring the strong interest in renewable energy investments in India. With record-breaking oversubscription rates and a high GMP, Waaree is set for an exciting listing, one that many investors have high hopes for. For both retail investors and institutional buyers, Waaree’s stock debut will be a key event to watch in the coming days, especially as it aligns with India’s growing push toward sustainable energy sources.
The stage is set for Waaree’s entry into the public market—investors are now eager to see if the high grey market expectations translate into real gains. If you’re one of those who secured an allotment, congratulations! For others, Waaree Energies might be worth watching post-listing as it enters the renewable energy spotlight on October 28.
Disclaimer
The information provided in this blog is for educational and informational purposes only and should not be considered as financial advice. Investing in IPOs involves risk, and it is recommended that readers conduct thorough research and consult a certified financial advisor before making any investment decisions. Past performance, including grey market premiums (GMP) and subscription data, does not guarantee future results. The author and publisher are not responsible for any investment decisions made based on this information and are not liable for any financial losses that may result. Please remember that investments in the stock market carry inherent risks, and it is essential to make informed and carefully considered choices.
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