The highly anticipated Waaree Energies IPO opened for subscription today, October 21, 2024, with a price band set between ₹1,427 and ₹1,503 per equity share. The company aims to raise ₹4,321.44 crore through this initial public offering, with ₹3,600 crore via fresh shares and ₹721.44 crore from an offer for sale (OFS). The IPO will remain open for bidding until October 23, 2024, providing investors an opportunity to participate in one of India’s leading solar PV module manufacturers.
Grey Market Premium (GMP) Today:
As of today, Waaree Energies IPO is commanding a grey market premium (GMP) of ₹1,473, indicating strong demand and investor confidence. The high GMP signals that shares are expected to list at a significant premium above the issue price, reflecting optimism about the company’s future growth in the solar energy sector.
Subscription Status:
As of 10:33 AM on the first day of bidding, the IPO had been subscribed 0.35 times overall, with the retail portion subscribed at 0.33 times and the non-institutional investor (NII) segment seeing a subscription rate of 0.88 times. These early numbers indicate a moderate level of interest, as investors carefully weigh the potential of Waaree Energies in a rapidly growing solar energy market.
The combination of a strong GMP and promising initial subscription figures suggests that Waaree Energies’ IPO is garnering attention from various investor segments.
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