Today marks an exciting day for investors as Waaree Energies Limited launches its Initial Public Offering (IPO) in the Indian stock market. The bidding for this public issue will be open until October 23, 2024. This IPO is highly anticipated due to the company’s strong reputation in the renewable energy sector.
IPO Details
Waaree Energies has set the price band for its shares between ₹1,427 and ₹1,503. The company aims to raise a total of ₹4,321.44 crore from this IPO. This amount will come from a mix of fresh shares and shares offered for sale (OFS). Specifically, ₹3,600 crore will come from new shares issued by the company, while ₹721.44 crore will be through the OFS route.
Before the IPO opened, there was a lot of excitement in the grey market. Currently, Waaree Energies shares are being traded at a premium of ₹1,473 in the grey market. This indicates strong demand among investors who are willing to pay significantly more than the IPO price to acquire the shares.
Subscription Status
As of now, the subscription status shows promising interest. The public issue has been subscribed 2.20 times, meaning that investors are eager to buy shares. The retail portion of the IPO has been booked 2.37 times, and the Non-Institutional Investors (NII) segment has seen even more interest, being filled 4.79 times.
Key Information for Investors
- IPO Size: Waaree Energies aims to raise ₹4,321.44 crore through this public issue.
- Price Band: The share price is set between ₹1,427 and ₹1,503.
- Lot Size: Investors can apply in lots, with one lot consisting of nine shares.
- Allotment Date: The expected date for share allocation is October 24, 2024.
- Registrar: Link Intime India Private Limited is the official registrar for this IPO.
- Listing: The shares are expected to be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on October 28, 2024.
Deciding whether to invest in Waaree Energies’ IPO depends on your investment goals and risk appetite. It’s crucial to do your homework.
The Waaree Energies IPO is an exciting opportunity for investors interested in the renewable energy market. With its strong market position and growth potential, it could be a worthy addition to your investment portfolio. Don’t forget to make informed decisions and consult with a financial advisor if needed.
