The highly anticipated listing of Waaree Energies Ltd is set to take place today, October 28, 2024. Following a record-breaking response from investors during its initial public offering (IPO), the shares are expected to debut at a significant premium.
Listing Date
Listing Date: October 28, 2024
Waaree Energies shares will be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). Trading will commence at 10:00 AM today, and the stock will be part of a Special Pre-open Session (SPOS).
Waaree Energies Share Price
Issue Price: ₹1,503 per share
Expected Listing Price: ₹2,777 per share (approximately 85% premium)Market analysts predict that Waaree Energies shares will list at around ₹2,777, reflecting strong investor interest and robust demand. The grey market premium (GMP) currently indicates a potential listing gain of between 80% and 100%, with estimates suggesting a listing price could reach as high as ₹3,063, based on the latest GMP of ₹1,274 per share.
Grey Market Premium (GMP)
The current GMP for Waaree Energies stands at approximately ₹1,274, signaling a bullish outlook among investors. This indicates that shares are trading at a premium of around 85% to the issue price of ₹1,503. The impressive GMP reflects strong demand for solar energy stocks amid increasing interest in renewable energy solutions.
Expert Predictions
Experts are optimistic about the listing performance of Waaree Energies. Shivani Nyati from Swastika Investmart Ltd noted that the stock is likely to debut strongly due to its impressive subscription numbers and solid fundamentals in the solar energy sector.Sagar Shetty, a Research Analyst at StoxBox, emphasized that Waaree Energies’ global expansion plans and competitive pricing strategies ensure revenue stability and long-term growth potential.
Subscription Performance
The IPO received overwhelming demand, achieving an overall subscription rate of 79.44 times. The Qualified Institutional Buyers (QIB) segment was particularly robust, with bids received for 208.63 times the offered shares. Retail investors also showed significant interest with their portion subscribed 10.79 times.
Conclusion: Should You Invest?
Given the strong fundamentals of Waaree Energies and its leadership position in the solar energy sector, analysts recommend that investors who received allotments consider holding onto their shares for long-term gains. However, those with a short-term perspective may want to book partial profits on listing day if they see substantial price increases. Disclaimer: The views and recommendations provided in this analysis are those of individual analysts or brokerage firms and do not constitute financial advice. Investors are advised to consult certified experts before making any investment decisions.
