Strong subscription numbers
India’s most-awaited Waaree Energies IPO is set to debut on the stock market on October 28, 2024. Due to its massive subscription, investors are looking for a healthy return on this IPO. Waaree Energies have a total 97.34 lakh subscription and 76.34 times on the demand.
Waaree Energies IPO
Waaree Energies asked to raise Rs 4,321.44 crore through its IPO. The bidding process ended on October 23, 2024. IPO was subscribed 79.44 times by the end of In the retail category, it was subscribed 11.27 times. The Qualified Institutional Buyers (QIB) have shown much higher interest, with a subscription of 215.03 times, while the Non-Institutional Investors (NII) category was least subscribed 65.25 times.
Waaree Energies IPO Allotment
Waaree Energies IPO allotment date is today, October 25. This IPO was open for subscription from October 21 to October 23, and the company is likely to debut on October 28. The company will fix the allotment process today itself. Eligible investors will get shares in their demat account on October 25, 2024, and those who aren’t lucky enough to get shares will get their refunds on the same day.
Grey Market Premium Indicates Strong Listing
A market analyst has a positive outlook on Waaree Energies’ listing. According to analysts, shares of Waaree Energies are expected to list at a premium, supported by a strong Grey Market Premium (GMP). The GMP was trading at Rs 1,370 as of October 25, 2024, which suggests a listing price of around Rs 2,873. This is a significant increase over the issue price of Rs 1,503, reflecting a potential gain of 91.15%.
Analyst told trade times “We can expect a strong listing for Waaree Energies, supported by its impressive grey market premium of 101.65%. Based on this, the stock is likely to list around Rs 2,846. The strong investor interest and the company’s solid fundamentals back this expected listing price.”
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Disclaimer: I am not a SEBI-registered investment adviser or research analyst. The information shared is only for educational purposes. This is not investment advice