Mon Oct 28 08:22:34 UTC 2024: ## Waaree Energies IPO to List Today with Expected High Premium, Despite Recent Drop in Grey Market

**Mumbai, October 28, 2024:** The Indian IPO market continues to boom in 2024, with several major companies launching their initial public offerings and generating significant returns for investors. Among them, Waaree Energies, a leading energy sector company, is set to list on the stock market today. The IPO received an overwhelming response from investors, with its grey market premium soaring during the subscription period. While the premium has since decreased, the company’s shares are still expected to list at a significant premium, promising a handsome profit for investors.

The grey market premium for Waaree Energies shares was initially trading at ₹1,590, suggesting a potential listing premium exceeding 100%. This meant investors could potentially double their investment on listing day. However, the premium has since slipped after the issue closed. As of this morning, the grey market premium is at ₹1,275, indicating a potential listing price of ₹2,778, still representing a substantial 84.83% premium.

This estimated premium, if realized, could translate into a significant profit for investors. Waaree Energies IPO had a price band of ₹1,427-₹1,503 per share. At an 84.83% premium, investors are estimated to make a profit of ₹1,275 per share on the upper price band. Given that the minimum investment for the IPO was ₹13,527 for a lot of 9 shares, investors who subscribed for one lot could potentially earn a profit of ₹11,475 on listing day.

Waaree Energies IPO opened for subscription on October 21st and closed on October 23rd, with a total issue size of ₹4,321.44 crores. The company issued 2.4 crore shares through a fresh issue worth ₹3,600 crores and 48 lakh shares through an OFS worth ₹721.44 crores. The IPO was oversubscribed by 79.44 times, indicating a strong investor interest.

It is important to note that investing in the stock market or IPOs carries inherent risks, and investors should always seek advice from market experts before making any investment decisions.

**Note:** This news article is based on the information provided in the original text and may not reflect the latest market developments. Investors should always refer to reliable financial sources for the most up-to-date information.

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