The Waaree Energies IPO is generating significant buzz as the allotment date approaches. Scheduled for October 25, 2024, investors are keen to know the latest updates regarding the grey market premium (GMP), subscription status, and how to check their allotment status online.
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: ₹1,427 to ₹1,503 per equity share
Waaree Energies Ltd., a leading manufacturer of solar PV modules, aims to leverage this IPO to expand its operations and strengthen its position in the renewable energy sector.
Current Subscription Status
The Waaree Energies IPO has witnessed an overwhelming response from investors:
- Overall Subscription: 76.34 times
- Qualified Institutional Buyers (QIBs): 208.63 times
- Non-Institutional Investors (NIIs): 62.49 times
- Retail Investors: 10.79 times
This robust demand indicates high confidence among investors in Waaree Energies’ growth potential.
Grey Market Premium (GMP)
As of today, the grey market premium for Waaree Energies shares has surged significantly:
- Current GMP: ₹1,558
- Estimated Listing Price: Approximately ₹3,061 per share
This indicates a potential listing gain of over 104%, reflecting strong market sentiment and investor enthusiasm for the stock.
How to Check Waaree Energies IPO Allotment Status Online
Investors can check their allotment status through the BSE and NSE websites or on the official portal of the IPO registrar, Link Intime India Private Ltd. Here’s how:
Checking Allotment Status on BSE:
- Visit the BSE website.
- Select ‘Equity’ in the Issue Type.
- Choose ‘Waaree Energies Limited’ from the Issue Name dropdown menu.
- Enter either your Application Number or PAN.
- Verify by ticking ‘I am not a robot’ and click on ‘Search’.
Your allotment status will be displayed on the screen.
Checking Allotment Status on Link Intime:
- Visit the Link Intime website.
- Select ‘Waaree Energies Limited’ from the Select Company dropdown menu.
- Choose among PAN, Application Number, DP ID, or Account Number.
- Enter the details based on your selection.
- Click on Search.
Your allotment status will be displayed accordingly.
Waaree Energies Share Price
Upon listing, Waaree Energies shares are anticipated to open significantly above the upper limit of its IPO price band of ₹1,503 due to the current grey market premium. If shares list at around ₹3,061 as indicated by the GMP, this would represent a substantial gain for investors who participated in the IPO.Investors should keep an eye on market movements post-listing to gauge how Waaree Energies performs in comparison to its expected opening price.
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 renewable energy stocks. 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.
