Waaree Energies Wraps Up Successful IPO Listing With Over 80% Premium

Investors were abuzz with excitement as renewable energy manufacturer Waaree Energies made its debut on the stock exchanges today. The highly anticipated IPO concluded its subscription period last week with overwhelming demand from retail as well as institutional investors.

Dubbed a ‘sunrise sector', the renewables industry has captured investor interest of late with its promising growth prospects. Waaree Energies is a leading player in the solar energy space with operations spanning manufacturing of solar panels, undertaking turnkey solar projects, and carrying out solar rooftop projects.

Following stellar responses during the bidding phase, market participants were eager to see how the company would fare on its listing day. Post-market hours revealed Waaree Energies had conquered the Dalal Street with its shares closing over 80% higher from the IPO price.

Strong interest was evident right from anchor book bidding that saw participation from marquee investors. All categories including HNIs and retail investors lapped up the IPO with heavy oversubscriptions. The issue was backed by prominent names like Axis Capital and SBI Capital Markets providing confidence to the investor community.

Waaree Energies has set its sights on expanding both nationally and globally in coming years. With sustainable energy fast emerging as a sunrise sector globally as well as domestically, analysts believe the company is well-poised to capitalize on growth opportunities. Successful listing translates to an encouraging start for the company to achieve its envisaged business goals and generate stakeholder wealth over the long run.

Going forward, the stock will be keenly watched to see if it can justify lofty investor expectations in a dynamic market environment. For now, Waaree Energies has undoubtedly captivated market participants with its stellar listing performance.