Waaree Energies is expected to announce the IPO allotment today. Investors can check the allotment status and listing date on various platforms, such as BSE, NSE, and Link Intime.
The company raised ₹4,321.44 crore from its IPO, which included ₹3,600 crore from new shares and an offer for sale of up to 48 lakh shares. The IPO was open for bidding between October 21 and October 23. Notably, it saw a historic response from investors with 97.34 lakh applications. As a result, it surpassed the previous record set by Bajaj Housing Finance’s IPO in September 2024.
IPO details
Price range – Rs 1,427 to Rs 1,503 per share.
Investor subscription rates are:
- Qualified institutional buyers (QIBs): 208.63 times
- Non-institutional investors (NIIs): 62.49 times
- Retail investors: 10.79 times
- Employees: 5.17 times
The lead managers for the IPO are Axis Capital, Jefferies India, IIFL Securities, Nomura, SBI Capital Markets, Intensive Fiscal Services, and ITI Capital. Link Intime India is the registrar for the issue.
How to check the allotment status?
You can visit any one of the following websites:
- BSE
- Visit https://www.bseindia.com/investors/appli_check.aspx
- Select ‘Equity’ under issue type
- Choose ‘Waaree Energies Limited’
- Enter application number
- Click ‘I am not a robot’ and hit ‘search’
- NSE
- Visit https://www.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp
- Register by clicking on the ‘Sign Up’ option using PAN details
- Log in and go to the IPO section
- Select ‘Waaree Energies IPO’
- Enter the required details and Captcha to view allotment
- Link Intime India
- Visit https://linkintime.co.in/MIPO/Ipoallotment.html
- Select IPO name
- Choose a method (Application number, DEMAT Account number, or PAN ID)
- Specify ASBA or non-ASBA
- Enter the details of the mode selected in the third step
- Enter Captcha and hit ‘submit’
Grey Market Premium (GMP) of the Waaree IPO
In the grey market, unlisted shares of Waaree Energies have seen a remarkable response from investors. The shares are trading at a premium of approximately Rs. 1560. This is 103.79% over the upper limit of the IPO price.
To clarify, GMP is the difference between the unofficial and official prices of newly issued stocks in the pre-listing market. The metric serves as an indicator of investor sentiment and potential listing gains of the IPO.
Therefore, the GMP for Waaree Energies’ IPO clearly reflects strong demand and positive expectations for listing gains.
What experts have to say?
Experts are optimistic about the IPO due to:
- Strong financial record
- Rising demand for solar energy
- Good market position
- Growth potential
- Expansion plans
- Fair valuations
However, there are some concerns regarding the investment due to reliance on China for raw materials and possible government policy changes.
Overall, the sentiment remains positive, with recommendations to subscribe to the IPO based on strong financials and industry opportunities.
About Waaree Energies
Founded in 1990, Waaree Energies is an Indian manufacturer of solar PV modules. The company boasts a manufacturing capacity of 12 GW for PV modules. It has plants located in Gujarat and Uttar Pradesh. Its product portfolio includes various types of PV modules, such as multi-crystalline, mono-crystalline, and TopCon.
Note- Waaree Energies’ stocks are expected to be listed on BSE and NSE on October 28.
