The Rs 4,000 crore initial public offering (IPO) of Waaree Energies Limited was subscribed 3.32 times on the first day of bidding. The retail individual investors (RIIs) segment saw a subscription of 3.17 times, while the non-institutional investors (NIIs) category was oversubscribed at 8.09 times. The qualified institutional buyers (QIBs) portion recorded a modest subscription level of 0.08 times. The IPO has received robust demand, particularly from NIIs, indicating strong investor interest.
Waree Energies has fixed a price band of Rs 1,427 to Rs 1,503 per share for its IPO. Ahead of the issue listing, the grey market premium of Waree Energies is nearly 100%. This after a sluggish demand and premium for Hyundai’s Rs 28,000 crore IPO.
