The Waaree Energies IPO has officially concluded its subscription period, and investors are eagerly awaiting the latest updates regarding allotment, grey market premium (GMP), and overall market performance. This article provides comprehensive insights into the IPO’s performance and what investors can expect moving forward.
Waaree Energies IPO Overview
- IPO Opening Date: October 21, 2024
- IPO Closing Date: October 23, 2024
- Total Issue Size: ₹4,321.44 crore
- Funds Raised from Anchor Investors: ₹1,276.93 crore
- Price Band: ₹440 to ₹463 per equity share
Waaree Energies is a prominent player in India’s solar energy sector, known for its extensive range of solar products and solutions. The company aims to utilize the proceeds from the IPO to expand its manufacturing capabilities and enhance its market reach.
Current Subscription Status
The Waaree Energies IPO has received an overwhelming response from investors:
- Overall Subscription: 79.44 times
- Qualified Institutional Buyers (QIBs): 215.03 times
- Non-Institutional Investors (NIIs): 65.25 times
- Retail Investors: 11.27 times
This strong demand indicates significant investor confidence in Waaree Energies’ growth potential and market position.
Grey Market Premium (GMP)
As of the latest updates, the grey market premium for Waaree Energies shares is reported at approximately ₹1,550 to ₹1,570, reflecting a remarkable premium of over 104%. This suggests that the market anticipates substantial listing day gains for the stock.
- Current GMP: ₹1,550 – ₹1,570
- Estimated Listing Price: Approximately ₹1,570 per share
The strong GMP signals investor enthusiasm and suggests that Waaree Energies could be on track to deliver impressive returns upon its market debut.
Expert Opinions on Waaree Energies
Analyst Insights
Market analysts have expressed positive sentiments regarding Waaree Energies’ future prospects:
- Anand Rathi Research emphasized the company’s commitment to expanding its footprint in both domestic and international markets. The report highlighted the increasing popularity of solar rooftops in India, driven by government incentives that have bolstered the solar module market.
- Arvind Kothari, a smallcase Manager, noted that Waaree has emerged as the largest solar business globally (excluding China) despite facing stiff competition. He pointed out that the company’s robust order book and significant capacity expansion plans position it well for sustained growth.
Waaree Energies Listing on NSE
Waaree Energies is expected to list on the National Stock Exchange (NSE) on October 28, 2024. The listing will mark a significant milestone for the company as it transitions from being a private entity to a publicly traded company. Given the strong subscription rates and positive GMP, analysts anticipate a favorable debut on the stock exchange.
Waaree Energies Share Price
Upon listing, analysts project that Waaree Energies could see its share price open significantly above the upper limit of its IPO price band of ₹463 due to the current grey market premium. If the shares list at around ₹1,570 as indicated by the GMP, this would represent a substantial gain for investors who participated in the IPO.
Key Dates to Remember
- Allotment Date: Expected on October 26, 2024
- Listing Date: Scheduled for October 28, 2024
Investors can check their allotment status on the registrar’s website once it is announced.
Conclusion: Should You Invest?
With substantial subscription rates and a promising grey market premium, Waaree Energies presents an attractive investment opportunity for those interested in the renewable energy sector. However, potential investors should conduct thorough research and consider their financial goals before making any investment decisions.
Disclaimer: The information provided in this article is for informational purposes only and should not be considered investment advice. Investors are encouraged to conduct their own research or consult with financial professionals before making any investment decisions regarding stocks or other securities.
This overview aims to keep investors informed about the Waaree Energies IPO as it unfolds while emphasizing informed decision-making in investing.
