Fri Oct 25 12:53:32 UTC 2024: Here are the key points from the news article regarding Waaree Energies’ IPO:
– **IPO Allotment**: The allotment of shares for Waaree Energies’ IPO has been finalized. Investors can check their allotment status online via the BSE, NSE, and the IPO registrar’s official portal.
– **Stock Performance**: The shares are currently trading at a significant premium of 104% in the grey market.
– **IPO Details**: The IPO raised ₹4,321 crore and received an overwhelming response, attracting bids worth ₹2.41 lakh crore, resulting in an overall subscription rate of 76 times. Institutional investors subscribed 76 times and non-institutional investors 62 times.
– **Market Debut**: Waaree Energies is expected to make its market debut on October 28, 2024.
– **FAQs for Investors**: Investors can check their allotment status by logging into the NSE allotment website or the IPO registrar’s website and providing relevant details such as PAN or application number.
– **Use of Funds**: The funds raised will be utilized for establishing a 6 GW manufacturing facility in Odisha and general corporate purposes.
– **Company Background**: Waaree Energies is India’s largest manufacturer of solar PV modules with a capacity of 12 GW as of June 2024, reporting the second-best operating income in FY24 among domestic manufacturers.
– **Grey Market Premium**: The company’s shares are trading at a grey market premium of ₹1,558 per share, suggesting a potential listing price of ₹3,061.
These points summarize the significant aspects of Waaree Energies’ IPO and its implications for investors.
First Piper 