Fri Oct 25 01:37:53 UTC 2024: **Summary of Waaree Energies Ltd. IPO News Article:**

– **IPO Subscription:** Waaree Energies Ltd.’s initial public offer (IPO) was subscribed 76.34 times by the completion of the share sale, with substantial backing from institutional investors.

– **Bids Received:** The IPO, valued at Rs 4,321.44 crore, received bids for over 1.6 billion shares, far exceeding the 2,107,938 shares on offer.

– **Investor Segmentation:**
– Qualified Institutional Buyers (QIBs) subscribed 208.63 times.
– Non-Institutional Investors (NIIs) subscribed 62.49 times.
– Retail Individual Investors (RIIs) subscribed 10.79 times.

– **Record Applications:** The IPO attracted the highest number of applications at the upper price band for a book-built issue, totaling 9.734 million applicants.

– **Anchor Investment:** Waaree Energies secured Rs 1,277 crore from anchor investors prior to the IPO.

– **Company Details:** The IPO consists of a fresh equity issue worth Rs 3,600 crore and an Offer For Sale (OFS) of 480,000 equity shares valued at Rs 721.44 crore, making a combined total of Rs 4,321.44 crore.

– **Upcoming Dates:** Allotment of shares will be finalized on October 24, with shares expected to list on the BSE and NSE on October 28.

– **Book-Running Lead Managers:** The issue is managed by a consortium of firms including Axis Capital, IIFL Securities, Jefferies India, and others.

– **Allotment Status Checking:** Investors can check the allotment status on the website of the registrar Link Intime India or the BSE by entering their application details.

– **Grey Market Premium:** The grey market premium (GMP) stood at Rs 1,560 as of October 24, suggesting a potential listing price of Rs 3,063 per share, indicating a 103.79% gain over the IPO price.

– **Use of Proceeds:** Funds raised will primarily finance the establishment of a 6 GW manufacturing facility for solar products in Odisha, along with general corporate purposes.

– **Company Profile:** Waaree Energies is a leading player in India’s solar energy sector, with an aggregate installed capacity of 12 GW across multiple manufacturing facilities.

– **Investment Warning:** It’s emphasized that investments in IPOs carry market risks, and investors should conduct thorough research and consult financial advisors.

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