Waaree Energies IPO Allotment Status: Everything You Need to Know
The Waaree Energies IPO was open for subscription from October 21 to October 23, with shares offered at a fixed price range of Rs 1,427-1,503 per share. As investors await the Waaree Energies IPO allotment status, this IPO has garnered significant attention due to its strong market demand and impressive Grey Market Premium (GMP).
Waaree Energies is poised for a potential multibagger listing, with the Grey Market Premium surging to Rs 1,560 per share. This indicates potential listing gains of over 104%, making it one of the standout IPOs this year.
Oversubscription and Investor Interest
The Waaree Energies IPO allotment status is eagerly awaited, especially after the IPO saw an overall subscription of 76.34 times. Qualified Institutional Buyers (QIBs) led the charge, subscribing 208.63 times their allotted portion, while Non-Institutional Investors (NIIs) booked 62.49 times their allocation. Retail investors also showed significant interest, subscribing 10.79 times, and even employees joined the frenzy with a subscription rate of 5.17 times.
About Waaree Energies
Founded in December 1990, Waaree Energies is a key player in India’s solar PV manufacturing sector, boasting an installed capacity of 12 GW. Their product range includes multicrystalline, monocrystalline, and TopCon modules, making them a dominant force in the renewable energy space.
Despite some concerns regarding the company’s reliance on Chinese raw materials and a limited supplier base, brokerages are optimistic. The company’s strong financials, rising demand for solar power, and substantial market share position Waaree Energies for future growth.
How to Check Waaree Energies IPO Allotment Status
Investors can check their Waaree Energies IPO allotment status using the following steps:
- Visit Link Intime India (the registrar managing the allotment process).
- Select the Waaree Energies IPO and choose your identification type (application number, Demat number, or PAN).
- Choose ASBA or non-ASBA and enter the required details.
- Submit the form after entering the captcha.
Link Intime India, a Sebi-registered entity, oversees the share allotment process and ensures compliance with refund timelines and investor queries.
For more updates and insights on IPOs like Waaree Energies IPO allotment status, stay tuned to Trend Spot Trader!
