Thu Oct 24 18:58:44 UTC 2024: **Summary of Waaree Energies IPO News Article:**

1. **Stellar Demand**: Waaree Energies Ltd, a manufacturer of solar PV modules, experienced unprecedented interest with the highest number of applications ever for an IPO.

2. **IPO Timeline**: The IPO was open for subscription from October 21 to 23, with the allotment date expected on October 24 and shares credited to demat accounts on October 25.

3. **Refunds**: Unsuccessful bidders will receive refunds on the same day as share crediting.

4. **Allotment Status**: Investors can check their allotment status online through BSE, NSE, and the official IPO registrar, Link Intime India Private Ltd, by following specific steps.

5. **Grey Market Performance**: The IPO has a strong grey market premium (GMP) of ₹1,558, indicating a favorable listing price of approximately ₹3,061, which is a 104% premium over the issue price of ₹1,503.

6. **Subscription Rates**: The IPO was heavily oversubscribed, with total subscriptions of 76.34 times, receiving bids for 160.91 crore equity shares against an offer of 2.10 crore shares, with substantial interest from retail and institutional investors.

7. **Financial Details**: The price band for the IPO was set between ₹1,427 and ₹1,503, raising about ₹4,321.44 crore through a combination of fresh issue and offer for sale.

8. **Listing Date**: The equity shares will be listed on both the BSE and NSE on October 28.

9. **Underwriters**: The IPO’s book running lead managers included major financial firms like Axis Capital and SBI Capital Markets.

10. **Investment Caution**: The article advises consulting certified experts before making investment decisions.

The Waaree Energies IPO has captured significant market attention with its robust subscription rates and market outlook.

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