Thu Oct 24 07:16:45 UTC 2024: **Summary of Waaree Energies IPO Allotment Status Article:**
1. **Allotment Status Date**: The allotment status for Waaree Energies’ IPO will be finalized on **October 24, 2024**.
2. **Subscription Details**: The IPO attracted significant interest, with a total subscription rate of **76.34 times**. This included bids for **1,60,91,61,741 equity shares** against **2,10,79,384 shares** on offer.
3. **Investor Categories**:
– **Qualified Institutional Buyers (QIBs)**: Subscribed **208.63 times** their reserved portion.
– **Non-Institutional Investors**: Subscribed **62.48 times**.
– **Retail Investors**: Subscribed **10.79 times**.
4. **Record Applications**: The IPO garnered a record **97.34 lakh applications**, surpassing previous records held by Bajaj Housing Finance and Tata Technologies.
5. **Price Band**: The shares were offered in a price band of **₹1,427 to ₹1,503** per share.
6. **Use of Proceeds**: The IPO aims to raise **₹4,321.44 crore**, which will be used to establish a **6GW solar manufacturing plant** and for general corporate purposes. It consists of **₹3,600 crore in fresh equity shares** and **₹721.44 crore in an offer-for-sale**.
7. **Key Dates**:
– Shared equity will be credited to Demat accounts of successful investors on **October 25, 2024**.
– Refunds for unsuccessful applicants will also be processed on the same date.
– The listing date for Waaree Energies shares on the NSE and BSE is set for **October 28, 2024**.
8. **Company Profile**: Founded in **1990**, Waaree Energies is recognized as India’s largest manufacturer of solar photovoltaic (PV) modules, with an installed capacity of **12 GW** as of June 30, 2024.
This article illustrates the strong market enthusiasm for Waaree Energies’ IPO, highlighting substantial investor engagement and the company’s position within the renewable energy sector.
First Piper 