A very important event in the Indian stock market has been the initial public offering (IPO) of Waaree Energies Limited, a very prominent company manufacturing solar photovoltaic (PV) modules. Due to the great response of investors in this company, this IPO has set new standards for applications and subscription levels.
If you want to know about Waaree Energies IPO, then you have come to the right place. Today in this article, we are going to give you complete information about the features of Waaree Energies IPO, such as allotment date, subscription status, gray market premium (GMP), and how investors can verify their allotment status.
Just read this article till the end. So let's start the article.
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About IPO And Subscription Details
Waaree Energies is scheduled to accept applications for its initial public offering (IPO) from October 21 to October 23, 2024. Waaree Energies' IPO has attracted unprecedented interest this time around, with a total of 97.34 lakh applications received - the highest ever for any Indian IPO. A combination of new shares and offer for sale were part of the issue, with the total size of the issue being around Rs 4,321.44 crore.
With a minimum lot size of nine shares, the shares were offered at a price between Rs 1,427 and Rs 1,503 per equity share. This means that a retail investor will have to submit an application amount for shares worth at least Rs 13,527. With 79.44% subscription for the entire issue of Waaree Energies.
The final subscription numbers have demonstrated a strong response. Interestingly, the subscription rate from non-institutional investors (NIIs) was around 65.25 times, but the retail component was subscribed 11.27 times. Qualified institutional bidders (QIBs) have shown the highest interest, with 208.63 times their allotted quota.
Detail | Information |
IPO Application Dates | October 21 to October 23, 2024 |
Total Applications Received | 97.34 lakh (highest ever for Indian IPO) |
Total Issue Size | Rs 4,321.44 crore |
Type of Issue | Combination of new shares and offer for sale |
Price Range per Share | Rs 1,427 to Rs 1,503 |
Minimum Lot Size | 9 shares |
Minimum Application Amount | Rs 13,527 |
Overall Subscription Rate | 79.44% |
Non-Institutional Investors (NII) Subscription | 65.25 times |
Retail Investor Subscription | 11.27 times |
Qualified Institutional Bidders (QIB) Subscription | 208.63 times |
Share Price Distribution Completion Date | October 24, 2024 |
Notification to Successful Bidders | October 25, 2024 |
Notification Details | IPO mandate cancellation or money debited |
Grey Market Premium (GMP) | 104% |
Expected Listing Day Gains | Strong expectations of returns above IPO price |
Unofficial Market Price Range | Rs 1,550 to Rs 1,570 |
Investor Sentiment | Significant optimism regarding company’s prospects |
Waaree Energies Allotment Date And Process
The distribution of share prices for the Waaree Energies IPO is expected to be completed on October 24, 2024. Successful bidders will be informed by October 25, 2024 that their IPO mandate has been cancelled or the money has been debited.
Investors in Wari Energies can verify their allotment status on the Bombay Stock Exchange (BSE) and Registrar based links on Intime India website. The procedures to verify allotment status are very simple, which is explained below in simple language. Just follow the steps below:
1. First of all you go to the Link Intime India portal or the official website of BSE.
2. Then under the issue type, select "Equity"
3. Then from the dropdown menu, select "Waari Energies Limited".
4. Then enter your PAN card details and application number.
5. Then after the captcha verification is over, select "Search".
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Waaree Energies Listing Date
Waaree Energies plans to offer its shares to the public markets upon completion of its own allotment process on October 28, 2024. Given the strong demand and high GMP, investors and market analysts are closely tracking the event, expecting a strong opening.
Disclaimer
The article is only for information purposes, we are not giving any advice to invest or purchasing any share. Kindly do take advice with a certified financial adviser before making any investment in the share market.
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