Waaree Energies IPO: Listing date today

Waaree Energies IPO Listing: The equity shares of solar PV module producer Waaree Energies Ltd. are scheduled to debut on the stock market today after an unprecedented response from investors for its initial public offering (IPO).

Today, October 28, is the day of Waaree Energies’ first public offering. Subscriptions for the public edition were accepted from October 21 to October 23.

The notification on the BSE said, “Trading Members of the Exchange are hereby informed that the equity shares of Waaree Energies Limited shall be listed and admitted to dealings on the Exchange with effect from Monday, October 28, 2024, in the list of ‘B’ Group of Securities.”

On Monday, October 28, Waaree Energies shares will be traded starting at 10:00 AM as part of the Special Pre-open Session (SPOS).

A multibagger return on share listing today is indicated by Waaree Energies’ IPO GMP, or grey market premium. Waaree Energies’ IPO listing today is also anticipated by analysts to be at a significant premium.

Today’s Waaree Energies IPO GMP

In the gray market, shares of Waaree Energies are displaying an incredible upward trend. The gray market premium for Waaree Energies’ IPO today is between 80% and 100%. Stock market watchers estimate that the IPO GMP for Waaree Energies is ₹1,274 per share today. This shows that shares of Waaree Energies are trading ₹1,274 higher on the gray market than they were at issue.

Price of Waaree Energies’ IPO Listing

Today’s Waaree Energies IPO GMP indicates that shares will be listed for ₹2,777 each, which is 85% more than the IPO price of ₹1,503 per share.

Experts in the stock market also anticipate that Waaree Energies will list at a premium of around 100% for its IPO today.

Given Waaree Energies’ remarkable grey market premium (GMP) of 103.79%, we may anticipate a robust listing. This means that the stock would probably list for around ₹3,063, which would represent a substantial gain of ₹1,560 over the issue price of ₹1,503. With a total subscription of 79.44 times, the IPO also attracted a lot of interest from investors, according to Shivani Nyati, Head of Wealth at Swastika Investmart Ltd.

The anticipated listing price is reasonable in light of the company’s solid foundation, industry leadership in solar energy, and the overwhelmingly high number of subscribers. However, she warned, investors should be aware of post-listing market circumstances, which may affect short-term price changes.

Given Waaree Energies’ potential for development in the renewable energy sector, long-term stock ownership may be a wise course of action for individuals who get an allocation. Short-term investors, however, should think about recording partial gains on listing day, particularly if the stock has a notable spike, Nyati said.

Waaree Energies is projected to have a strong stock market debut today, with a premium of over 106% above the top price range, according to Sagar Shetty, Research Analyst at StoxBox.

“The company’s strong order book, competitive pricing, and global expansion optimize global sourcing and supply chain costs while ensuring revenue stability, business continuity, and sustainable growth.” Therefore, we advise authorized investors to think about holding onto their assets with a medium- to long-term vision,” Shetty said.

The QIB, which placed a massive bid of 215 times the offer, followed by 65x and retail investors, drove the greatest subscription response from all investor groups to Waaree Energies’ IPO despite the secondary market selloff.

“There is a good chance and indication of a blockbuster market debut, which can double allotted investors’ money on day one of listings justifying the demand, given the strongest subscription demand and sector importance.” Book profits are advised for allocated investors since, in our opinion, post-listing prices may be too high, discounting any medium-term business development prospects, said Prashanth Tapse, Senior VP Research and Research Analyst at Mehta Equities Ltd.

Details about Waaree Energies’ IPO

The subscription period for Waaree Energies’ initial public offering (IPO) began on October 21 and ended on October 23. Waaree Energies’ IPO listing date is today, October 28, whereas the IPO allocation date was October 25. Waaree Energies Ltd.’s equity shares will be placed on the BSE and NSE stock markets.

Through the book-built issue, which included the selling of 48 lakh shares for ₹721.44 crore and the new issuance of 2.4 crore equity shares for ₹3,600 crore, the business was able to raise ₹4,321.44 crore.

The pricing range for Waaree Energies’ IPO was ₹1,427 to ₹1,503 per share. The IPO surpassed the record for the most applications ever submitted for an IPO and was well welcomed by investors.

With offers for 160.91 crore equity shares compared to the 2.10 crore shares on offer, Waaree Energies’ IPO was subscribed for 76.34 times overall. Over ₹2.41 lakh crore in subscriptions were made.

10.79 subscriptions were made to the issue in the retail category, while 62.49 subscriptions were made in the non-institutional investor (NII) category. 208.63 was reserved for the Qualified Institutional Buyers (QIBs) section.

The Waaree Energies IPO’s book running lead managers are Axis Capital, IIFL Securities, Jefferies India, Nomura Financial Advisory And Securities (India), SBI Capital Markets, Intensive Fiscal Services, and ITI Capital Ltd. The IPO registrar is Link Intime India Private Ltd.