Waaree Energies IPO: Record subscription has been seen in the IPO of solar modules manufacturing company Waaree Energies Limited. On the last day of applications, the company’s IPO closed with 76.34 times subscription due to the strong response received from all categories of investors. Wednesday 23 October 2024 was the last date to apply for the IPO of Wari Energies Limited.
Investors invested heavily in IPO
According to BSE data, if we look at the subscription of Vaari Energies Limited, 58,37,757 shares were reserved for institutional investors (Qualified Institutional Buyers) and applications for 1,21,79,37,402 shares were received for this category. The category of institutional investors has been subscribed 208.63 times. 44,35,838 shares were reserved for the category of non-institutional investors and applications for 27,71,72,883 shares were received for this category and this category was subscribed a total of 62.48 times. 1,03,50,288 shares were reserved for retail investors and applications were received for a total of 11,16,95,301 shares. This category is filled 10.79 times. The employees category has been subscribed 5.17 times.
Company raised Rs 4321.44 crore
The IPO of Waari Energies Limited was open from 21-23 October 2024. The company has raised Rs 4321.44 crore through IPO and the price band per share was fixed at Rs 1427-1503. The company has raised Rs 3600 crore by issuing 2.4 crore new shares in IPO and 48 lakh shares have been sold through offer for sale.
Strong listing signals from GMP
In the gray market, the IPO of Vaari Energies Limited is trading up by Rs 1480 or 98.47 percent. Whereas the company has raised money at the issue price of Rs 1503. This means that there is a possibility that the company’s stock may double upon listing on the stock exchange.
Listing possible on October 28
Applications for IPO have closed. The basis of allotment will be decided on Thursday, October 24, 2024. Refunds will be issued to the applicants on October 25. Shares will be credited to the demat accounts of investors on October 25. The IPO will be listed on BSE-NSE on Monday, October 28, 2024. Axis Capital Limited, IIFL Securities, Jefferies India, Nomura are the book running lead managers of the IPO.
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