The much-anticipated Waaree Energies IPO allotment status has been finalized, and market observers are buzzing with excitement as the listing date approaches. The shares of Waaree Energies are set to debut on the stock exchanges on October 28, 2024, at 10:00 AM. With a strong Grey Market Premium (GMP) indicating potential multibagger returns for allottees, investors are keenly monitoring this IPO.
Important Dates
- IPO Bidding Period: October 15, 2024 – October 17, 2024
- Allotment Status Announcement: October 25, 2024
- Listing Date: October 28, 2024
- Trading Begins: October 28, 2024, at 10:00 AM
Waaree Energies IPO Allotment Status
The allotment status for the Waaree Energies IPO was made public on October 25, 2024. Following the ‘T+3’ listing rule, applicants were expecting this announcement after three days of robust bidding that concluded on Wednesday evening. Investors can check their allotment status online through the National Stock Exchange (NSE), Bombay Stock Exchange (BSE), or the registrar Link Intime India.
Grey Market Premium (GMP) Insights
As of today, the GMP for Waaree Energies stands at an impressive ₹1,591, reflecting a ₹61 increase from Thursday’s GMP of ₹1,530. This significant rise in GMP suggests that the shares may list at around ₹3,094, which is approximately 106% higher than the upper price band of ₹1,503. Despite recent pressures in the secondary market, particularly in the banking and auto sectors, the strong GMP signals positive sentiment among investors.
What Does This Mean for Investors?
While a robust GMP often indicates strong listing gains, experts caution that it should not be viewed as a definitive predictor of performance. The grey market operates outside regulatory oversight and does not directly reflect a company’s financial health. Investors are advised to conduct thorough research and consider the fundamentals of Waaree Energies before making investment decisions.
Company Overview and Market Sentiment
Waaree Energies is recognized as one of India’s largest manufacturers of solar photovoltaic modules, boasting an installed capacity of 12 GW as of June 30, 2024. The IPO received an overwhelming response from investors, being oversubscribed by 76.34 times, with the Qualified Institutional Buyers (QIBs) segment seeing an impressive subscription rate of over 208 times.
Conclusion
As Waaree Energies prepares for its stock market debut on October 28, 2024, all eyes are on the anticipated listing price and market performance. With a promising GMP suggesting potential multibagger returns, investors should remain vigilant and informed as they navigate this exciting opportunity in the renewable energy sector. Disclaimer: The views and recommendations expressed in this article are those of individual analysts and brokerage firms and do not necessarily reflect those of Mint or its affiliates. Investors should consult certified experts before making any investment decisions.
