Thu Oct 24 18:37:44 UTC 2024: Here are the important points from the news article about Waaree Energies’ IPO:

1. **Allotment Schedule**: Waaree Energies plans to finalize the basis of share allotment on October 24, with notifications for bidders sent out by October 25.

2. **IPO Details**: The IPO was open for bidding from October 21 to October 23, offering shares at a fixed price of Rs 1,427-1,503 per share, with a minimum lot size of nine shares.

3. **Funds Raised**: Waaree Energies raised a total of Rs 4,321.44 crores, which includes a fresh share sale of Rs 3,600 crores and an offer-for-sale (OFS) of up to 48 lakh shares.

4. **Subscription Metrics**: The IPO was oversubscribed 76.34 times overall, with qualified institutional bidders (QIBs) subscribing 208.63 times. Non-institutional investors (NIIs) subscribed 62.49 times, while retail investors and employees subscribed 10.79 times and 5.17 times, respectively.

5. **Grey Market Performance**: The grey market premium (GMP) for Waaree Energies increased sharply, indicating potential returns of over 105% for investors.

6. **Company Background**: Waaree Energies, based in Mumbai and established in 1990, manufactures solar PV modules with an installed capacity of 12 GW.

7. **Brokerage Opinions**: Brokerages view the issue positively, citing strong financials and growth potential in the solar market, though they raised concerns about dependence on Chinese raw materials and regulatory changes.

8. **Lead Managers**: The IPO was managed by several entities, including Axis Capital, Jefferies India, and SBI Capital Markets. Link Intime India is the registrar for the issue.

9. **Allotment Status Checking**: Investors can check their allotment status on the BSE website or the Link Intime India portal with their application number or other required details.

10. **Registrar Role**: The registrar is responsible for handling applications, allotment processes, and post-issue investor queries.

This summary encapsulates the key aspects of the Waaree Energies IPO and its market reception.

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