Thu Oct 24 17:18:13 UTC 2024: Here are the key highlights from the Waaree Energies IPO news article:

1. **Record Response**: The IPO of Waaree Energies Limited received a record-breaking 97.34 lakh applications, marking the highest number of applications for any IPO to date.

2. **Subscription Details**: The IPO was open for subscription from October 21 to 23 and was heavily subscribed, achieving a total subscription of 76.34 times, with bids for 160.91 crore equity shares against an offer of 2.10 crore shares.

3. **Investor Categories**:
– Qualified Institutional Buyers (QIBs) subscribed 208.63 times.
– Non-Institutional Investors (NIIs) subscribed 62.49 times.
– Retail investors subscribed 10.79 times.

4. **IPO Allotment and Listing Dates**: The allotment of shares is expected to be finalized on October 24, with shares credited to demat accounts on October 25. The listing date is scheduled for October 28.

5. **Financial Performance**: Waaree Energies reported significant financial growth in recent years, with total income increasing from ₹2,945.85 crore in FY22 to ₹11,632.76 crore in FY24.

6. **Grey Market Activity**: The shares are trading at a grey market premium (GMP) of ₹1,558, indicating a potential listing price of ₹3,061, up 104% from the IPO price of ₹1,503.

7. **Use of Proceeds**: The funds raised from the IPO will be used to establish a 6 GW manufacturing facility in Odisha, contributing to the company’s plan for backward integration and capacity expansion.

8. **Market Valuation**: Post-issue, Waaree Energies’ market valuation is estimated to exceed ₹4,300 crore, reinforcing its position as one of the leading solar PV module manufacturers.

9. **Expert Recommendations**: Analysts have expressed a positive outlook on Waaree Energies due to strong fundamentals, anticipated growth, and the company’s significant market presence.

10. **Current Status**: Investors are guided on how to check their IPO allotment status through the BSE, NSE, and the IPO registrar Link Intime.

Overall, the IPO demonstrates robust investor confidence in Waaree Energies as it seeks to capitalize on the growing demand for renewable energy solutions in India.

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