Waaree Energies launched its IPO, a book-built issue of ₹4,321.44 crore on October 21. The IPO comprises a fresh issue of 2.4 crore shares, aggregating to ₹3,600 crore, and an offer for sale of 0.48 crore shares, aggregating to ₹721.44 crore.

Waaree Energies IPO Subscription Status

On the final day at around 4:30 pm, the Waaree Energies IPO was subscribed 76.22 times. The retail investor category has been subscribed 10.61 times, while the non-institutional investors category has seen a subscription of 62.37 times. The Qualified Institutional Buyers (QIBs) category has been subscribed 208.63 times.

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Waaree Energies IPO GMP

The Waaree Energies IPO grey market premium (GMP) was at ₹1,455 on Wednesday evening, declining from ₹1,500 on Tuesday afternoon. This puts the IPO’s tentative listing price at ₹2958 at a 96.81% premium.

It’s important to note that while GMPs can provide some insight into market sentiment towards an IPO, they are not always a reliable predictor of the stock’s performance upon listing.

Waaree Energies IPO Details

The IPO price band was set at ₹1,427 to ₹1,503 per share. The minimum lot size for an application is nine shares, requiring a minimum investment of ₹13,527 by retail investors. The allotment for the Waaree Energies IPO is expected to be finalised on Thursday, October 24 with the tentative listing date fixed as Monday, October 28 on both the BSE and NSE.

The net proceeds from the offering will be used for setting up the 6 gigawatts of ingot wafer, solar cell and solar photovoltaic module manufacturing facility in Odisha. The funds will also be used for general corporate purposes.

About Waaree Energies

Waaree Energies is one of the leading solar energy companies in India. It is involved in the manufacturing and distribution of solar energy products and solutions. The company has a strong presence in both domestic and international markets.

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