Mon Oct 28 07:07:49 UTC 2024: ## Waaree Energies IPO to List Today with Reduced Premium, Still Expected to Yield Profits

**Mumbai, October 28:** The highly anticipated Initial Public Offering (IPO) of Waaree Energies is set to list on the stock market today. The issue had garnered immense interest from investors during its subscription period, with the grey market indicating a potential listing at a significant premium. However, recent developments have seen the grey market premium decrease.

Initially, Waaree Energies shares were trading at a premium of ₹1590 in the grey market, suggesting a possible listing at over 100% premium. This indicated potential for investors to double their money on listing day. However, after the issue closed, the premium has reduced.

Currently, as per market data, the grey market premium stands at ₹1275, hinting at a potential listing at an 84.83% premium, priced at ₹2778. While this is a reduction from the initial anticipation, it still promises substantial returns for investors.

Based on the upper price band of the IPO (₹1503), a listing at an 84.83% premium would translate to a profit of ₹1275 per share. The IPO had a lot size of 9 shares, requiring a minimum investment of ₹13,527. This means investors who applied for one lot can expect a profit of ₹11,475 on listing day.

The IPO, which opened for subscription on October 21st and closed on October 23rd, raised a total of ₹4,321.44 crore. It saw a strong response from investors, achieving a subscription of 79.44 times. Notably, the retail category was subscribed 11.27 times, while the Qualified Institutional Buyers (QIB) and Non-Institutional Investors (NII) categories received 215.03 times and 65.25 times subscription, respectively.

**Disclaimer:** It is important to consult with market experts before making any investment decisions related to the stock market or IPOs.

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