Waaree Energies share allotment: GMP signals multibagger listing, details here

Waaree Energies IPO share allotment: The IPO was open for subscription from October 21 to October 23, offering shares within a fixed price range of Rs 1,427-1,503 per share.

In Short

• Share allotment status for Waaree Energies IPO expected today
• GMP hits Rs 1,560, indicating potential 104% listing gains
• IPO raised Rs 4,321.44 crore, including Rs 3,600 crore fresh issue

Waaree Energies looks set for a multibagger listing after its initial public offering saw overwhelming interest from investors, making its IPO a standout event.

As bidders wait for the share allotment status, the Grey Market Premium (GMP) of Waaree Energies has soared to Rs 1,560 per share, signalling potential gains of over 104%.

The IPO was open for subscription from October 21 to October 23, offering shares within a fixed price range of Rs 1,427-1,503 per share, with a minimum lot size of nine shares. The total size of the offering was Rs 4,321.44 crore, which included a fresh issue worth Rs 3,600 crore and an offer for sale (OFS) of up to 48 lakh equity shares.

As mentioned earlier, the IPO was highly oversubscribed, with an overall subscription rate of 76.34 times. Qualified Institutional Buyers (QIBs) showed the strongest demand, with their portion subscribed 208.63 times.

Non-Institutional Investors (NIIs) booked 62.49 times their allocated portion, while retail investors subscribed 10.79 times and employees subscribed 5.17 times.

The offering was oversubscribed 76.34 times, driven by high demand from Qualified Institutional Buyers (QIBs), who subscribed 208.63 times their allocated portion. Non-Institutional Investors (NIIs) and retail investors booked their portions 62.49 times and 10.79 times, respectively.

Established in December 1990, Waaree Energies is a leading Indian manufacturer of solar PV modules with an installed capacity of 12 GW. Their product portfolio includes multicrystalline, monocrystalline, and TopCon modules.

Brokerages were optimistic about the IPO, citing the company’s solid financials, growing demand for solar power, substantial market share, and future growth potential. However, concerns were raised about the company’s reliance on Chinese raw materials, a limited supplier base, and potential policy changes.

How to Check Waaree Energies IPO Allotment Status:

Via BSE:

Visit BSE Website.

Select "Equity" under issue type.

Choose "Waaree Energies Limited" from the dropdown.

Enter your application number and PAN ID.

Click "I am not a Robot" and hit search.

Via Link Intime India:

Visit Link Intime India.

Choose the IPO and select the identification type: application number, Demat number, or PAN.

Select ASBA or non-ASBA.

Enter the relevant details and captcha, then click submit.

Link Intime India, a Sebi-registered registrar, oversees the electronic share allotment process and ensures compliance with refund timelines and investor query resolution.