The Waaree Energies IPO is making waves in the investment community as the eagerly awaited allotment date approaches. Scheduled for October 25, 2024, this initial public offering is attracting substantial interest from investors. As we dive deeper into the latest updates on the grey market premium (GMP), subscription status, and easy ways to check allotment status online, investors are eager to understand the potential returns and implications of investing in this renewable energy leader.
Waaree Energies IPO Overview
- IPO Opening Date: October 21, 2024
- IPO Closing Date: October 23, 2024
- Total Issue Size: ₹4,321.44 crore
- Funds Raised from Anchor Investors: ₹1,276.93 crore
- Price Band: ₹1,427 to ₹1,503 per equity share
Waaree Energies Ltd., recognized as a prominent manufacturer of solar photovoltaic (PV) modules, is set to leverage this IPO to not only expand its operational capacity but also to solidify its foothold in the rapidly growing renewable energy market. This strategic move aligns with global trends aimed at sustainable energy solutions.
Current Subscription Status
The Waaree Energies IPO has attracted an impressive response from various investor categories:
- Overall Subscription: 76.34 times
- Qualified Institutional Buyers (QIBs): 208.63 times
- Non-Institutional Investors (NIIs): 62.49 times
- Retail Investors: 10.79 times
This overwhelming demand demonstrates a strong confidence among investors regarding Waaree Energies’ growth trajectory in the renewable sector, pointing to broader trends in sustainable investments.
Grey Market Premium (GMP)
Currently, the grey market premium for Waaree Energies shares showcases a sharp increase:
- Current GMP: ₹1,558
- Estimated Listing Price: Approximately ₹3,061 per share
This projected price suggests a potential listing gain of over 104%, indicating robust market sentiment and strong enthusiasm among investors for Waaree Energies as a promising stock within the renewable energy sector.
How to Check Waaree Energies IPO Allotment Status Online
Investors can easily track their allotment status through multiple platforms including the BSE, NSE, and the official registrar, Link Intime India Private Ltd. Here’s a step-by-step guide:
Checking Allotment Status on BSE:
- Visit the BSE website.
- Select ‘Equity’ in the Issue Type section.
- From the Issue Name dropdown menu, choose ‘Waaree Energies Limited’.
- Enter your Application Number or PAN.
- Complete the verification by ticking ‘I am not a robot’ and click ‘Search’.
Your allotment status will be displayed on the screen, allowing for easy tracking of your investment.
Checking Allotment Status on Link Intime:
- Navigate to the Link Intime website.
- Select ‘Waaree Energies Limited’ from the Select Company dropdown menu.
- Choose among PAN, Application Number, DP ID, or Account Number.
- Input the necessary details based on your selection.
- Click on Search to view your allotment status.
Waaree Energies Share Price Projection
With the listing expected to happen above the IPO price band cap of ₹1,503 due to the substantial grey market premium, initial trading could start above ₹3,061. Such a move would present significant gains for investors who seized the opportunity during the IPO phase. Keeping track of post-listing market movements will be crucial for all stakeholders to understand how Waaree Energies performs against market expectations.
Conclusion: Should You Invest in Waaree Energies?
With outstanding subscription rates coupled with a promising grey market premium, Waaree Energies emerges as an enticing investment opportunity in the renewable energy sector. However, it remains vital for potential investors to conduct comprehensive research and reflect on their financial objectives prior to making any investment decisions.
Disclaimer: This article is intended for informational purposes only and should not be construed as investment advice. Investors are advised to perform their own due diligence or consult with financial advisors before making investment decisions related to stocks and securities.