Waaree Energies IPO: The company raised a total of Rs 4,321.44 crore from its IPO.
Waaree Energies IPO: On Thursday, October 24, Waaree Energies is expected to complete the basis for allocating its shares. Messages, notifications, or emails about fund debits or revocations of their IPO mandate will be sent to bidders by Friday, October 25 at the latest. Investors responded in a historic way to the Mumbai-based solar player.
Bidding for Waaree Energies’ initial public offering (IPO) took place from October 21 to October 23. With a lot size of nine shares, it had offered its shares in the fixed price range of Rs 1,427–1,503 per share. Through its initial public offering (IPO), which comprised an offer-for-sale (OFS) of up to 48 lakh equity shares and a new share sale of Rs 3,600 crore, the firm raised a total of Rs 4,321.44 crore.
Because to the enthusiastic interest of qualified institutional bidders (QIBs), whose quota was booked an impressive 208.63 times, the issue was subscribed a respectable 76.34 times overall. Non-institutional investors’ (NIIs’) allotment was reserved 62.49 times. During the bidding procedure, the sections for workers and retail investors were subscribed 5.17 and 10.79 times, respectively.
Garuda Construction and Engineering’s grey market premium (GMP) has increased significantly as a result of a strong investor reaction. As of the last time we heard, the firm was selling for a premium of Rs 1,550–1,570 on the black market, which means that investors would get returns of over 105%, suggesting that it is poised to become another multibagger.
Located in Mumbai Waaree Energies is an Indian company that was founded in December 1990 and produces solar PV modules with a combined installed capacity of 12 GW. The spectrum of solar energy products includes PV modules, including TopCon, monocrystalline, and multicrystalline modules.
Because of its solid financial record, growing demand for solar electricity, significant market shares, future development prospects, expansion ambitions, and fair values, brokers had a good opinion of the issue and recommended subscribing. However, the main issues were reliance on restricted players, raw material dependency on China, and any changes in governmental regulations.
The Waaree Energies IPO’s book running lead managers are Axis Capital, Jefferies India, IIFL Securities, Nomura Financial Advisory & Securities (India), SBI Capital Markets, Intensive Fiscal Services, and ITI Capital. The issue’s registrar is Link Intime India.
On the Bombay Stock Exchange (BSE) website, investors who placed bids for Waaree Energies may see the allocation status:
1) For investors, go to https://www.bseindia.com/appli_check.aspx
2) Select Equity under the issuance type.
3) In the Dropbox, choose Waaree Energies Limited under the issue name.
4) Write the application number.
5) Enter the PAN card number 6) Select “I Am Not a Robot” and press the “Search” button.
The issue’s registrar, Link Intime India, has an online platform
(https://linkintime.co.in/MIPO/Ipoallotment.html) where investors may also monitor the status of their allocations.
According to the prospectus, the registrar is a Sebi-registered organization that is authorized to function in that capacity. It electronically handles all applications and completes the allocation procedure. It is in charge of sending and uploading refunds, responding to any investor-related inquiries after the issuance, and adhering to the deadlines for updating the electronic credit of shares to successful applicants.
1) Visit Link Intime Limited’s website.
2) In Dropbox, choose the IPO or FPO whose name will appear only if the allocation is confirmed.
3) One of the three modes may need to be chosen by you: PAN ID, Demat Account number, or Application number
4) Choose between ASBA and non-ASBA under application type.
5) Type in the information for the mode you chose in Step 2.
6) Please correctly complete the captcha for security reasons.
7) Press the submit button.
