Waaree Energies IPO GMP Today
According to market observers, the Waaree Energies IPO GMP today stands at a robust ₹1,473 in the grey market. This premium indicates strong investor sentiment and optimism regarding the company’s future performance post-listing. The high GMP suggests that shares are expected to list at a significant premium compared to the issue price.
Subscription Status
As of 10:33 AM on the first day of bidding, the public issue had been subscribed 0.35 times, with the retail portion booked at 0.33 times and the non-institutional investor (NII) segment filled at 0.88 times. This initial interest reflects a moderate level of demand as investors evaluate the potential of Waaree Energies in the growing solar energy market.
Expert Reviews and Investment Recommendations
Analysts have generally assigned a ‘subscribe’ rating to the Waaree Energies IPO due to its strong market position as the largest manufacturer of solar PV modules in India. Mahesh M Ojha, AVP of Research at Hensex Securities, emphasized that Waaree Energies is well-positioned to capture industry growth opportunities in solar energy both domestically and internationally. He noted that the company has advanced manufacturing facilities with global accreditations and holds a large order book with diverse customers.Ojha further highlighted Waaree’s healthy financials, including total borrowings of ₹317.32 crore in FY2024 and a low debt-to-equity ratio of 0.08x, making it an attractive investment for both listing gains and long-term growth.Anshul Jain, Head of Research at Lakshmishree Investment and Securities, echoed these sentiments by stating that Waaree’s leadership position allows it to offer competitive pricing while attracting a wide customer base in India and abroad. He acknowledged that while risks associated with exports and currency fluctuations exist, Waaree’s operational efficiency positions it well for future growth.
Conclusion
The Waaree Energies IPO presents a compelling opportunity for investors looking to capitalize on the expanding solar energy sector in India. With strong grey market sentiments reflected in the GMP today, along with positive analyst recommendations supporting its potential for growth, this IPO is worth considering for those interested in long-term investments or seeking listing gains.The allotment date for shares is expected to be on October 24, 2024, with listing anticipated on both the BSE and NSE by October 28, 2024.
Disclaimer: The views expressed in this article are those of individual analysts or broking companies and do not represent the views of Mint or any other financial institution. Investors are strongly advised to consult certified experts before making any investment decisions as market conditions can change rapidly and individual circumstances may vary.
