Waaree Energies IPO Sees Strong Investor Demand, Grey Market Premium Rises

Waaree Energies IPO: The subscription for the Initial Public Offering (IPO) of Waaree Energies Limited began on 21st October 2024 and will be open until 23rd October 2024. This solar PV module maker has set the price band for its IPO between Rs. 1427 to Rs. 1503 per equity share. The company plans to raise a total of Rs. 4,321.44 crore, out of which Rs. 3,600 crore will be generated through the issuance of new shares

Investor Response and Grey Market Sentiment

The Waaree Energies IPO has received a decent response from Indian investors. Stock market observers noted that the Grey Market Premium (GMP) for Waaree Energies shares is trading at a 100% premium. As of today, the GMP is Rs. 1503, which is Rs. 30 higher than the previous day’s price of Rs. 1473. The rising GMP reflects the strong market interest in the IPO, and experts believe it could increase further with favorable trends in the broader stock market.

Waaree Energies IPO Subscription Status (as of Day 2)

By 2:09 PM on the second day of bidding:

• Overall subscription: 6.52 times
• Retail portion: Subscribed 5.50 times
• Non-Institutional Investors (NII): Subscribed 17.64 times
• Qualified Institutional Buyers (QIB): Subscribed 0.16 times

Important Dates

• IPO Allotment Date: Likely on 24th October 2024
• IPO Listing Date: Expected on 28th October 2024

Also read: Hyundai Motor Shares Debut below Issue Price

The robust response from investors and the rising GMP indicate strong market optimism surrounding the Waaree Energies IPO. Investors are closely watching for further developments as the IPO progresses.

Disclaimer

This article is intended for informational purposes only and should not be considered as financial or investment advice. Investing in the stock market carries inherent risks, and readers are encouraged to conduct thorough research or consult with a certified financial advisor before making any investment decisions. The information provided is accurate to the best of our knowledge at the time of writing but may be subject to change.