Mon Oct 28 09:12:04 UTC 2024: ## Waaree Energies Shares Debut with a Bang, Surge 69.7% on BSE
**Mumbai, October 24, 2024:** Waaree Energies, the leading solar energy solutions provider, made a stellar debut on the stock exchanges today, with its shares listing at a premium of 69.7% on the BSE. The company’s shares were listed at ₹2,550 per share, representing a premium of 70% over the issue price of ₹1,503. The shares also debuted at ₹2,500 per share on the NSE.
The initial public offering (IPO) of Waaree Energies, which concluded on October 23, had garnered an overwhelming response from investors. The IPO, sized at ₹4,321 crore, received bids worth ₹2.41 lakh crore, with over 97.34 lakh applications – a record high for any IPO in India’s primary market. The IPO was oversubscribed by 76 times, with institutional investors subscribing 208 times and non-institutional investors 62 times.
Following the impressive listing, Waaree Energies shares witnessed some profit-booking, dipping to ₹2,300 per share from the initial peak. This represents a ₹250 drop from the listing price.
Waaree Energies raised ₹4,321.44 crore through its IPO, which opened from October 21-23. The IPO consisted of ₹3,600 crore raised through issuance of 2.4 crore new shares and ₹48 crore raised through an offer for sale of 48 lakh existing shares. The price band for the IPO was set at ₹1427-1503 per share.
Prior to the listing, the grey market premium (GMP) for Waaree Energies shares indicated a potential listing at almost double the issue price. The GMP had suggested a potential surge of around 97% or double the issue price.
The strong debut of Waaree Energies comes amidst a positive start to the trading week, with the Nifty index crossing the 24,250 mark and the Sensex also registering gains.
First Piper 