Mon Oct 28 05:00:15 UTC 2024: ## Waaree Energies Shares Set for Blockbuster Market Debut with Record-Breaking IPO Response

**Mumbai, October 28, 2024:** Waaree Energies, a leading manufacturer of solar PV modules, is set to make its debut on the stock market today, following an unprecedented response to its initial public offering (IPO). The company’s shares are expected to be listed on both the BSE and NSE.

The IPO, which was open for subscription from October 21 to 23, was oversubscribed by a staggering 76.34 times, receiving bids for 160.91 crore equity shares against an offer of 2.10 crore shares.

Investor enthusiasm has translated into a significant Grey Market Premium (GMP) of 80% to 100%, with analysts predicting a listing price at a premium of around 100% to the IPO price of ₹1,503 per share. This indicates a potential listing price of around ₹3,063, marking a significant gain of ₹1,560 for investors.

“We can expect a strong listing for Waaree Energies, supported by its impressive grey market premium,” said Shivani Nyati, Head of Wealth at Swastika Investmart Ltd. “The IPO also received robust demand, with an overall subscription of 79.44 times, indicating strong investor interest.”

The company raised ₹4,321.44 crore through the IPO, a combination of fresh issue of 2.4 crore equity shares worth ₹3,600 crore and offer for sale of 48 lakh shares amounting to ₹721.44 crore.

Waaree Energies’ strong fundamentals, leadership in the solar energy sector, and robust order book have contributed to the high investor confidence. Experts suggest that investors holding the stock for the long term may benefit from the company’s growth potential in the renewable energy space.

However, investors should be mindful of market conditions post-listing, which could influence short-term price movements. Some experts recommend booking partial profits on listing day, especially if the stock sees a significant surge.

The listing of Waaree Energies shares is poised to be a landmark event for the Indian capital market, showcasing the growing interest in the renewable energy sector and highlighting the potential for a strong future for the company.

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