Thu Oct 24 11:58:37 UTC 2024: Waaree Energies Ltd., a solar photovoltaic manufacturing company, launched its IPO on October 21, seeking to raise approximately ₹4,300 crore through a combination of fresh issues and an offer for sale (OFS). By the third day of bidding, the demand for shares surged, with bids received being nearly 76 times the number of shares offered. Retail investors placed bids 10.5 times the 1.03 crore shares allocated to them, while qualified institutional buyers (QIBs) exhibited even greater interest, bidding about 208 times their allocation. Most bids from QIBs came from domestic investors, contributing 48.5 crore shares, while foreign investors were close behind with 46 crore shares. Mutual funds showed comparatively less interest, with only 6.4 crore shares bid. The price range for the shares is set between ₹1,427 and ₹1,503, comprising a fresh issue of about ₹3,600 crore and an OFS of 48 lakh equity shares. Additionally, the benchmark BSE SENSEX closed at 80,081.98 points, down 0.17% from the previous day.

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