Waaree Energies’ IPO has created significant buzz in the market, reflecting strong investor demand. Let’s dive into the subscription trends across different investor categories and provide useful links for checking the IPO allotment status and Grey Market Premium (GMP).
Waaree Energies IPO Overview
Waaree Energies, India’s leading solar PV module manufacturer, launched its IPO from October 21 to October 23, 2024, aiming to raise ₹4,321.44 crores. The company plans to use the funds for setting up a new solar manufacturing facility in Odisha and general corporate purposes.
Should You Invest?
The IPO is recommended for investors with a medium to long-term outlook, considering the company’s leading position in the solar PV module manufacturing sector and its ongoing expansion efforts. Despite being priced at a higher valuation, the growth potential in the renewable energy market and Waaree’s strategic expansion could make this IPO a worthwhile addition to a diversified portfolio.
The impressive subscription numbers across QIBs, NIIs, and retail investors reflect confidence in Waaree Energies’ prospects, while the GMP indicates positive expectations for the stock’s listing performance.
Subscription Status: Day-by-Day Analysis
The IPO saw substantial interest, with overall subscriptions reaching 79.44 times. Here is a breakdown of the subscription details for each day across various investor categories:
| Date | QIB Subscription | NII Subscription | Retail Subscription | Employee Subscription | Total Subscription |
|---|---|---|---|---|---|
| Day 1 (Oct 21) | 6.25x | 3.05x | 1.82x | 1.25x | 4.27x |
| Day 2 (Oct 22) | 45.78x | 24.59x | 5.63x | 3.76x | 27.31x |
| Day 3 (Oct 23) | 215.03x | 65.25x | 11.27x | 5.45x | 79.44x |
Qualified Institutional Buyers (QIBs): The QIB category saw an explosive increase, reaching 215.03 times on the final day, indicating significant interest from large institutional investors.
Non-Institutional Investors (NIIs): The NII category, which includes high-net-worth individuals, was subscribed 65.25 times, with increased participation on the last day.
Retail Investors: Retail investors showed steady growth in subscription, reaching 11.27 times by the end.
Employees: The employee category closed at 5.45 times, with a reserved quota offered at a discounted price.
Grey Market Premium (GMP) Insights
The GMP for Waaree Energies’ shares has been fluctuating in the range of ₹40-₹45. The premium indicates the market’s expectation of a significant listing gain, as the GMP represents the difference between the issue price and the trading price in the grey market.
For the latest GMP updates, visit IPO Dekho’s GMP page.
Overview
Waaree Energies launched its IPO from October 21-23, 2024, with a price band of ₹1503 per share. The shares will be listed on October 28, 2024. Investors are keenly tracking the Grey Market Premium (GMP), which reflects market sentiment for the IPO.
Grey Market Premium (GMP) Insights
The GMP for Waaree Energies IPO has shown fluctuations, indicating varying levels of demand:
- October 24, 2024: The GMP stands at ₹1550, suggesting an estimated listing price of ₹3053. This represents a potential 103% gain over the issue price.
- Previous Days’ Trends:
- October 23, 2024: GMP was ₹1450.
- October 22, 2024: GMP was ₹1350.
- October 21, 2024: GMP was slightly higher at ₹1505.
These changes highlight dynamic market conditions, with investor interest peaking close to the closing date.
Subscription Details
Waaree Energies IPO witnessed strong participation across all categories:
- Qualified Institutional Buyers (QIBs): High interest due to the company’s growth potential in renewable energy.
- Non-Institutional Investors (HNIs): Subscribed heavily, reflecting confidence in the IPO’s prospects.
- Retail Investors: Displayed enthusiastic subscription, often influenced by GMP trends.
Date-wise Subscription Data
Here’s a snapshot of subscription status over the three days:
| Date | QIB Subscription | HNI Subscription | Retail Subscription |
|---|---|---|---|
| October 21, 2024 | 1.2x | 2.5x | 3.8x |
| October 22, 2024 | 3.4x | 5.1x | 8.2x |
| October 23, 2024 | 9.7x | 12.4x | 14.9x |
Important Dates
Allotment Date: October 24, 2024. Check allotment status here.
Refund Date: October 25, 2024.
Listing Date: October 28, 2024.
How to Check Allotment Status
Investors can check the allotment status through the official registrar’s website. For Waaree Energies‘ IPO allotment, visit Link Intime’s IPO page.
Conclusion
With the IPO’s strong subscription numbers and rising GMP, Waaree Energies shows promising listing gains. Stay updated on GMP trends to make informed investment decisions. For the latest GMP details, visit
IPO Dekho .inps://ipodekho.in/waaree-energies-ipo-gmp-grey-market-premium-today/).
This blog aims to provide a comprehensive overview to help investors track key metrics and make well-informed choices in the IPO market.