Waaree Energies IPO: Allotment Status, GMP, and Listing Date Details
Mumbai-based Waaree Energies, a leading solar PV module manufacturer, saw an overwhelming response to its IPO. The company is slated to finalize the basis of allotment on October 24, 2023. Here's how you can check your IPO application status and all other
Waaree EnergiesIpoAllotment StatusGrey Market PremiumSolar EnergyReal Estate MumbaiOct 24, 2024
IPO OverviewThe IPO of Waaree Energies was open for bidding from October 21 to October 23, 2023. The company offered its shares in the price band of Rs 1,427 to Rs 1,503 per share, with a lot size of nine shares. The total funds raised from the IPO amounted to Rs 4,321.44 crore, which included a fresh share sale of Rs 3,600 crore and an offer-for-sale (OFS) of up to 48 lakh equity shares.
Subscription DetailsThe IPO was oversubscribed a staggering 76.34 times, driven by a robust response from qualified institutional bidders (QIBs), whose quota was subscribed 208.63 times. Non-institutional investors (NIIs) also showed strong interest, subscribing 62.49 times. The retail investors and employee portions were subscribed 10.79 times and 5.17 times, respectively.
Grey Market Premium (GMP)The grey market premium (GMP) for Waaree Energies has surged, with the company commanding a premium of Rs 1,550 to Rs 1,570 in the unofficial market. This indicates a potential return of over 105% for investors, signaling the IPO as a potential multibagger.
About Waaree EnergiesIncorporated in December 1990, Waaree Energies is a leading Indian manufacturer of solar PV modules with an installed capacity of 12 GW. The company's product portfolio includes multicrystalline, monocrystalline, and TopCon modules. Brokerages have shown a positive outlook on the IPO, citing strong financials, rising solar power demand, and robust market shares. However, concerns such as reliance on China for raw materials and potential changes in government policy remain.
Checking Allotment StatusInvestors can check their IPO allotment status on the Bombay Stock Exchange (BSE) website 1. Visit https //www.bseindia.com/investors/appli_check.aspx2. Select 'Equity' under issue type3. Choose 'Waaree Energies Limited' from the issue name dropdown4. Enter the application number5. Provide the PAN card ID6. Click on 'I am not a Robot' and hit the search button
Alternatively, investors can check the allotment status on the online portal of Link Intime India (https //linkintime.co.in/MIPO/Ipoallotment.html), the registrar for the issue 1. Go to the web portal of Link Intime Limited2. Select the IPO/FPO from the dropdown3. Choose one of the three modes Application number, Demat Account number, or PAN ID4. Select the application type (ASBA or non-ASBA)5. Enter the required details6. Fill the captcha accurately7. Hit submit
The registrar, a SEBI-registered entity, is responsible for processing all applications and managing the allotment process. They ensure compliance with timelines for updating the electronic credit of shares, dispatching refunds, and addressing investor queries post-issue.
ConclusionWaaree Energies' IPO has garnered significant attention and a strong response from investors. For those who applied, checking the allotment status through the BSE website or the Link Intime India portal is straightforward. As the company looks to expand its operations and capitalize on the growing solar energy market, investors can look forward to the potential benefits of their investment.
Frequently Asked Questions
When will Waaree Energies finalize the IPO allotment?
Waaree Energies is scheduled to finalize the IPO allotment on October 24, 2023.
How can I check my IPO allotment status?
You can check your IPO allotment status on the BSE website (https://www.bseindia.com/investors/appli_check.aspx) or the Link Intime India portal (https://linkintime.co.in/MIPO/Ipoallotment.html). Follow the steps provided on these platforms to enter your application number and other details.
What is the grey market premium (GMP) for Waaree Energies IPO?
The grey market premium (GMP) for Waaree Energies IPO is currently Rs 1,550 to Rs 1,570, indicating a potential return of over 105% for investors.
What is the price band for Waaree Energies IPO?
The price band for Waaree Energies IPO is Rs 1,427 to Rs 1,503 per share.
What is the total amount raised by Waaree Energies from its IPO?
Waaree Energies raised a total of Rs 4,321.44 crore from its IPO, which included a fresh share sale of Rs 3,600 crore and an offer-for-sale (OFS) of up to 48 lakh equity shares.
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