The highly anticipated share allotment for Waaree Energies’ Initial Public Offering (IPO) is expected to be announced today, October 24, 2024. Waaree Energies, a leading manufacturer of solar photovoltaic (PV) modules, attracted a record number of applications during its IPO, which was open for bidding from October 21 to 23. Investors who participated are eager to find out if they have received allotment and are looking forward to the company’s listing on the stock market.
The share allotment for Waaree Energies is likely to be finalized today, with successful applicants having the shares credited to their Demat accounts by October 25, 2024. On the same day, refunds will be initiated for those who did not receive any shares. Investors can check their allotment status on the official websites of BSE, NSE, or the IPO registrar, Link Intime India Private Ltd.
How to Check Waaree Energies IPO Allotment Status Online
Follow these steps to view your allotment status:
1. On the BSE Website:
- Go to the BSE allotment page: https://www.bseindia.com/investors/appli_check.aspx
- Choose “Equity” as the Issue Type.
- Select “Waaree Energies Limited” from the drop-down menu in the Issue Name.
- Enter your Application Number or PAN Number.
- Confirm the captcha by selecting the “I am not a robot” box.
- Click on “Search” to view your allotment status.
2. On the Link Intime Website:
- Visit the IPO registrar’s website: https://linkintime.co.in/initial_offer/public-issues.html
- Choose “Waaree Energies Limited” from the Select Company list.
- Select the option (PAN, Application Number, DP ID, or Account Number).
- Enter your details and click “Search.”
- The screen will show your allotment status once it’s available.
Waaree Energies shares are showing strong demand in the grey market. The Grey Market Premium (GMP) for Waaree Energies is currently ₹1,558 per share. This means the shares are trading at a premium of ₹1,558 above the issue price in the grey market. The high GMP suggests that Waaree Energies shares may list at around ₹3,061 per share, a 104% premium to the upper price band of ₹1,503 per share.
Waaree Energies’ IPO saw record-breaking demand, making it one of the most successful IPOs in recent times. The issue was subscribed 76.34 times overall, with different investor categories showing significant interest:
- Retail investors subscribed 10.79 times.
- Non-Institutional Investors (NIIs) subscribed 62.49 times.
- Qualified Institutional Buyers (QIBs) showed the highest interest, subscribing 208.63 times.
In total, the IPO received bids for over 160.91 crore shares against the 2.10 crore shares offered. This means the IPO attracted over ₹2.41 lakh crore in subscriptions.
Waaree Energies IPO Price Band and Issue Size
The price band for Waaree Energies’ IPO was set between ₹1,427 and ₹1,503 per share. At the upper price band of ₹1,503, the company raised ₹4,321.44 crore. This includes a fresh issue of 2.4 crore equity shares worth ₹3,600 crore and an Offer for Sale (OFS) of 48 lakh shares amounting to ₹721.44 crore.
Waaree Energies is expected to list its shares on both the BSE and NSE on October 28, 2024. Investors who have been allotted shares can look forward to potentially strong returns, given the high demand for the IPO and the solid grey market premium.
With the Waaree Energies IPO allotment likely to be announced today, investors should stay updated by checking their allotment status online. The strong grey market premium signals positive market sentiment, and Waaree Energies is set to make a successful debut on the stock exchanges.However, it’s essential to conduct thorough research before making any investment decisions.
