Thu Oct 24 23:05:39 UTC 2024: **Waaree Energies IPO Summary:**

1. **IPO Overview**: Waaree Energies Limited, a solar PV module manufacturer, successfully closed its IPO worth ₹4,321.44 crores with an overwhelming response, achieving a subscription level of 79.44 times.

2. **Investor Response**:
– Non-Institutional Investors (NII) subscribed 65.25 times.
– Qualified Institutional Buyers (QIB) subscribed 215 times.
– Retail investors subscribed 11.27 times.
– Employees’ reserve portion was subscribed 5.45 times.

3. **Allotment Status**: The allotment for the IPO is expected to be announced on October 24. Investors can check their allotment status on the registrar Link Intime and the BSE website.

4. **Share Listing**: Waaree Energies’ shares are scheduled to list on BSE and NSE on October 28, following ₹1,276.93 crores raised from anchor investors before the IPO.

5. **Fund Utilization**: Proceeds from the IPO will partially finance the establishment of a manufacturing facility for ingots, wafers, solar cells, and solar PV modules in Odisha, along with general corporate purposes.

6. **Market Premium**: In the grey market, Waaree Energies’ shares are trading at a premium of approximately 103.79%, indicating a potential listing price around ₹3,063 against the upper price band of ₹1,503.

7. **Regulatory Notice**: SEBI has decided to implement stricter rules for IPOs of small and medium companies to enhance regulatory oversight.

8. **Investment Caution**: Potential investors are advised to seek expert advice before investing, as the stock market involves inherent risks.

**Disclaimer**: The information is for informational purposes only and does not constitute investment advice.

Read More