The much-anticipated Waaree Energies IPO opened today, creating a buzz in the stock market. The initial public offering (IPO) of Waaree Energies Limited allows investors to participate in India’s booming solar energy sector.
The IPO will remain open for subscription until October 23, 2024, and market watchers are already showing keen interest in the offer. But should you apply?
Here are all the critical details to help you make an informed decision:
Waaree Energies IPO Key Details
- IPO Price Range: ₹1,427 – ₹1,503 per share
- Issue Size: ₹4,321.44 crore
- ₹3,600 crore from fresh shares
- ₹721.44 crore via Offer for Sale (OFS)
- GMP (Grey Market Premium): ₹1,473 (as of October 21, 2024)
- IPO Lot Size: 9 shares per lot
- Subscription Dates: October 21-23, 2024
- IPO Allotment Date: Likely on October 24, 2024
- Listing Date: October 28, 2024, on BSE and NSE
- Lead Managers: Axis Capital, IIFL Securities, Jefferies India, SBI Capital Markets, and others
Waaree Energies IPO Subscription Status
By 10:54 AM on day one of bidding, the subscription status indicated promising interest across different investor segments:
| Investor Category | Subscription Rate (Day 1, 10:54 AM) |
|---|---|
| Retail Investors | 0.61 times |
| Non-Institutional Investors (NII) | 1.25 times |
| Qualified Institutional Buyers (QIB) | 0.57 times |
The retail and NII segments showed strong demand, reflecting bullish sentiment among market participants.
Waaree Energies IPO – Apply or Not?
Industry experts recommend a ‘Subscribe’ rating for this IPO. Waaree Energies, as India’s largest solar PV module manufacturer, is well-positioned to benefit from global demand for renewable energy solutions.
The company boasts a healthy balance sheet with low debt, and its strong operational performance is attracting long-term investors.
MUST READ: Waaree Energies IPO Day 2: GMP, Subscription Status, Should You Apply?
Expert Opinion:
- Mahesh M Ojha, Hensex Securities: “Waaree Energies has advanced manufacturing facilities, a robust order book, and significant global demand. We recommend subscribing for both listing gains and long-term investments.”
- Anshul Jain, Lakshmishree Investment & Securities: “Waaree’s leadership in the solar sector and its strong export revenue make it a compelling investment opportunity.”
Conclusion
Given the company’s fundamentals, growth prospects in the solar industry, and strong market sentiment, Waaree Energies IPO presents a solid investment opportunity.
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Disclaimer
Investment in IPOs carries risks. Please evaluate your risk tolerance and consult with financial experts before investing.