Its Last Day: Did You Subscribe to Waaree Energies IPO?

On the last day of bidding, Waaree Energies IPO witnessed an increased interest from retail investors. Waaree Energies IPO opened for subscription on October 21, 2024 and closes on October 23, 2024. Waaree Energies IPO allotment is likely to be finalised on October 24, 2024. Waaree Energies IPO will be listed on BSE and NSE with a tentative listing date of October 28, 2024.

Waaree Energies IPO price band has been set at ₹1,427 to ₹1,503 per share. The minimum lot size for an application is 9 Shares. The minimum amount of investment required by retail investors is ₹13,527. 

On Day 2, Waaree Energies IPO subscribed 9.19 times. The public issue subscribed 6.69 times in the retail category, 1.82 times in QIB, and 24.75 times in the NII category 

On October 23, 2024, at 09:53 AM, Waaree Energies IPO’s last GMP stood at ₹1,375. With a price band of ₹1,503.00, Waaree Energies IPO’s estimated listing price is ₹2,878. The expected percentage gain/loss per share is 91.48%.

Waaree Energies Ltd.  (WEL) is the largest manufacturer of solar PV modules in India with the largest aggregate installed capacity of 12 GW, as of June 30, 2024. For Fiscal 2024, the company recorded the second-best operating income among all the domestic solar PV module manufacturers in India. The company commenced operations in 2007 focusing on solar PV module manufacturing to provide quality, cost-effective sustainable energy solutions across markets, and aid in reducing carbon footprint paving the way for sustainable energy thereby improving quality of life.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.