Waaree Energies IPO Allotment Date Set for October 24

Waaree Energies is set to finalise the allotment of its shares on Thursday, October 24. Bidders will receive notifications for fund debits or revocations of their IPO mandates by Friday, October 25, 2024. 

The Mumbai-based solar company received an overwhelming response during its IPO, which was open for bidding from October 21 to October 23. The shares were offered at a fixed price between ₹1,427 and ₹1,503, with a minimum lot size of 9 shares. The company successfully raised ₹4,321.44 crore, which includes a fresh share sale of ₹3,600 crore and an offer-for-sale (OFS) of up to 48 lakh equity shares.

The IPO was oversubscribed by an impressive 76.34 times, largely driven by strong interest from qualified institutional bidders (QIBs), who subscribed 208.63 times their allocation. Non-institutional investors (NIIs) subscribed 62.49 times, while retail investors and employees subscribed 10.79 times and 5.17 times, respectively. The grey market premium (GMP) for Waaree Energies has surged, with the unofficial market indicating a premium of ₹1,550-1,570, suggesting potential returns exceeding 105% for investors.

Established in December 1990, Waaree Energies specialises in manufacturing solar PV modules. It has an installed capacity of 12 GW and offers a product range that includes multicrystalline, monocrystalline, and TopCon solar modules.

How do you check Waaree Energies’ IPO Allotment Status?

Steps to check Waaree Energies IPO allotment status on Angel One’s app-

1. Sign in to your Angel One app account.
2. Go to the IPO Section and click on IPO Orders.
3. Select the particular IPO you applied for to check the allotment status.
4. You will receive updates about your IPO allotment status through push notifications and emails from Angel One.

Keep checking the upcoming IPO updates to ensure you don’t miss any crucial IPOs.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.