Waaree Energies IPO Allotment Date
Waaree Energies, a leading player in India’s solar energy sector, recently concluded its much-anticipated Initial Public Offering (IPO). The company is set to announce the allotment of shares today, October 24. Investors and market enthusiasts have shown immense interest in this IPO, and the allotment status can now be checked online via the official registrar or Bombay Stock Exchange (BSE).
Waaree Energies’ IPO has been a massive success, receiving an overwhelming response from investors. Post-issue, the company’s market valuation has surged to over Rs 4,300 crore, marking it as one of the largest IPOs in the renewable energy sector.
Waaree Energies IPO Allotment Date: Strong Investor Response and Massive Subscription
Waaree Energies’ IPO attracted one of the highest-ever numbers of applications, with around Rs 97.34 lakh worth of bids. The public offer saw subscriptions totaling Rs 2.41 lakh crore, reflecting the growing demand for shares of this major solar energy firm. The three-day IPO ended with a staggering 76.34 times subscription, signaling strong market confidence in Waaree Energies’ future growth.
The IPO, which aimed to raise Rs 4,321.44 crore, saw bids for an impressive 160 crore shares against the 2.10 crore shares on offer. Before the IPO opened to the general public, the company had already mobilized Rs 1,277 crore from anchor investors. The price band for the issue was set between Rs 1,427 and Rs 1,503 per share.
Grey Market Premium (GMP) Updates
The Waaree Energies IPO has been a hot topic in the grey market, where the shares initially commanded a premium of Rs 1,500 to Rs 1,510, suggesting potential listing gains of over 100%. However, the grey market premium (GMP) has seen a slight dip recently, now hovering around Rs 1,370 to Rs 1,375. Despite this adjustment, the shares still project solid listing gains, estimated to be over 90%, keeping investor sentiment positive.
How to Check Your Allotment Status?
Investors who subscribed to the Waaree Energies IPO can easily check the allotment status online through two major platforms – Link Intime (the official registrar) and the BSE website.
Steps to Check Allotment on Link Intime:
- Visit the official Link Intime website at Link Intime IPO status page.
- Select “Waaree Energies” from the dropdown menu.
- Enter your PAN, application number, or DP client ID.
- Click “Submit.”
- The allotment status will appear on the screen.
Steps to Check Allotment on BSE:
- Visit the BSE website and click on the “Investors” section.
- From the “Investor Services” dropdown, select “Status of Issue Application.”
- Choose “Equity” under the issue type.
- Enter your PAN number and other required details.
- Click “Search” to view your allotment status.
Use of IPO Proceeds
The proceeds from Waaree Energies’ IPO will be used to set up a 6 GW (gigawatt) capacity manufacturing facility in Odisha for Ingot Wafer, Solar Cells, and Solar PV modules. The funds will also support general corporate purposes, ensuring the company continues to expand its footprint in the solar energy industry. With an existing production capacity of 12 GW across five facilities in India, Waaree Energies is poised for rapid growth as renewable energy demand surges in the country.
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FAQs
1. When will the Waaree Energies IPO allotment be announced?
The allotment of shares is expected to take place today, October 24, 2024. Investors can check the status online via the official registrar or the BSE website.
2. What will Waaree Energies use the IPO funds for?
The company plans to use the funds for setting up a new 6 GW manufacturing facility in Odisha and for general corporate purposes, expanding its presence in the solar energy sector.
Waaree Energies, with its strong market position and growing demand for renewable energy, has garnered attention from investors and analysts alike. Stay tuned for more updates on the IPO listing and performance!
