The excitement is palpable as Waaree Energies Limited prepares to finalize its Initial Public Offering (IPO) allotment today, October 24, 2024. With record-breaking demand, this solar PV modules manufacturer has captured the attention of investors and industry analysts alike. Here’s what you need to know about the Waaree Energies IPO, including how to check your allotment status, the latest grey market premium (GMP), and key details about the offering.
A Record-Breaking IPO
Waaree Energies launched its IPO from October 21 to October 23, 2024, and the response has been nothing short of phenomenal. With over 160.91 crore equity shares bid for a total offer of just 2.10 crore shares, the IPO was subscribed an astonishing 76.34 times. This surge in interest has made Waaree Energies’ IPO the highest-ever in terms of applications received, demonstrating strong market confidence in the company and the renewable energy sector.
Key Highlights of the Waaree Energies IPO
- IPO Price Band: ₹1,427 to ₹1,503 per share
- Total Funds Raised: ₹4,321.44 crore
- Fresh Issue: 2.4 crore equity shares worth ₹3,600 crore
- Offer for Sale (OFS): 48 lakh shares amounting to ₹721.44 crore
- Subscription Details:
- Retail Category: 10.79 times
- Non-Institutional Investors (NII): 62.49 times
- Qualified Institutional Buyers (QIB): 208.63 times
With such overwhelming demand, Waaree Energies is set to make a significant mark in the stock market, which is reflected in its impressive grey market performance.
Checking Your Allotment Status
As the allotment date approaches, many investors are eager to find out if they have received shares in the Waaree Energies IPO. The allotment status can be easily checked through several platforms, including the Bombay Stock Exchange (BSE), National Stock Exchange (NSE), and the official registrar’s website, Link Intime India Private Ltd. Here’s how you can do it:
How to Check Waaree Energies IPO Allotment Status on BSE
- Visit the BSE Website: Go to BSE Application Status.
- Select Issue Type: Choose ‘Equity’ from the dropdown menu.
- Select Issue Name: Pick ‘Waaree Energies Limited’ from the list.
- Enter Your Details: Provide either your Application Number or PAN.
- Verify: Check the box that says ‘I am not a robot’ and click on ‘Search.’
Your Waaree Energies IPO allotment status will be displayed on the screen.
How to Check Waaree Energies IPO Allotment Status on Link Intime
- Visit the Link Intime Website: Go to Link Intime IPO Status.
- Select Company: Choose ‘Waaree Energies Limited’ from the dropdown menu.
- Choose Your Option: Select either PAN, Application Number, DP ID, or Account Number.
- Enter Your Details: Fill in the relevant information based on your selection.
- Click on Search: Your allotment status will appear on the screen.
Waaree Energies IPO Grey Market Premium (GMP)
As of today, Waaree Energies shares are showing a bullish trend in the grey market. The current GMP is ₹1,558 per share, indicating strong demand even before the official listing. This suggests that the shares are expected to list at around ₹3,061, reflecting a premium of 104% over the IPO price of ₹1,503 per share.
This impressive GMP further underscores the market’s confidence in Waaree Energies and the growing importance of renewable energy solutions in today’s economy.
What’s Next for Waaree Energies?
Following the allotment today, eligible applicants can expect to see their shares credited to their demat accounts on October 25, 2024. Simultaneously, refunds will be processed for those who did not receive shares. The official listing date for Waaree Energies shares is scheduled for October 28, 2024, on both BSE and NSE, making it a highly anticipated event for investors.
Conclusion
The Waaree Energies IPO has emerged as a significant player in the Indian stock market, backed by stellar demand and strong investor interest. As the company moves towards its listing date, investors are keenly watching for updates on allotment and market performance. With renewable energy gaining traction, Waaree Energies is poised for a bright future, and today’s IPO allotment will be a pivotal moment for many investors.
Stay tuned for more updates, and remember to check your allotment status as we move closer to this exciting listing!
hii Aditi Sahu this side..
As an author and writer specializing in investment and finance , I am dedicated to delivering insightful articles and news stories that inform and engage the investment community . My focus is on providing timely and relevant content that covers market trends , innovative strategies , and key financial development . My goal is to equip investors with the knowledge and insights needed to make informed decisions and succeed in a dynamic financial environment.
