Waaree Energies IPO Witnessed Increased Subscription on Day 2

On the 2nd day of bidding, Waaree Energies IPO recorded an increased interest from the retail investors. Waaree Energies ₹4,321.44 crore IPO opened for bidding on October 21, 2024 and will close on October 23, 2024. Waaree Energies IPO allotment is expected to be finalised on October 24, 2024. Waaree Energies IPO  is a combination of a fresh issue of 2.4 crore shares aggregating to ₹3,600.00 crore and an offer for sale of 0.48 crore shares aggregating to ₹721.44 crore. The price band for Waaree Energies IPO has been set at ₹1,427 to ₹1,503 per share.

Axis Capital Limited, Iifl Securities Ltd, Jefferies India Private Limited, Nomura Financial Advisory And Securities (India) Pvt Ltd, SBI Capital Markets Limited, Intensive Fiscal Services Private Limited and ITI Capital Ltd have been appointed as book-running lead managers. 

Waree Energies IPO Subscription 

At 11:10 AM on October 22, 2024, Waaree Energies IPO subscribed 4.91 times. The public issue subscribed 4.37 times in the retail category, 0.09 times in QIB, and 12.50 times in the NII category.

Waaree Energies IPO last GMP was estimated at ₹1,500 on October 22, 2024, at 10:23 AM. With a price band of ₹1,503.00, Waaree Energies IPO’s estimated listing price is ₹3,003 (cap price + today’s GMP). The expected percentage gain/loss per share is 99.80%.

Waaree Energies Limited is an Indian manufacturer of solar PV modules with an aggregate installed capacity of 12 GW. The product portfolio of solar energy products consists of the following PV modules including Multicrystalline modules, Monocrystalline modules; and

TopCon modules include flexible bifacial modules (Mono PERC), both framed and unframed, as well as building-integrated photovoltaic (BIPV) modules.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.