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The highly anticipated initial public offering (IPO) of Waaree Energies Ltd, a prominent solar PV module manufacturer, has concluded, leaving investors eager to discover their allotment status. The IPO, which garnered record-breaking demand, has been finalized, with the allotment date set for October 25, 2023. This unprecedented interest in the IPO is reflected in the impressive subscription rate of 76.34 times, indicating the strong confidence investors have in the company's future prospects.
Waaree Energies, aiming to raise ₹4,321.44 crore through a combination of fresh issue and offer for sale (OFS), saw a remarkable response from all investor categories. The retail segment subscribed 10.79 times, while non-institutional investors (NIIs) contributed a significant 62.49 times subscription. The Qualified Institutional Buyers (QIBs) portion was oversubscribed by a staggering 208.63 times. This overwhelming demand underscores the positive sentiment surrounding Waaree Energies and its potential to drive growth in the renewable energy sector.
Investors can now access their Waaree Energies IPO allotment status through multiple online platforms. The BSE and NSE websites, along with the official portal of the IPO registrar, Link Intime India Private Ltd, provide clear instructions on how to check allotment status using application number or PAN. The company is expected to credit shares to successful applicants' demat accounts and initiate refunds to unsuccessful bidders on the same day, October 25.
The gray market, a speculative market for IPO shares before listing, is exhibiting strong bullish sentiment toward Waaree Energies. The current grey market premium (GMP) stands at ₹1,558 per share, indicating that shares are being traded at a substantial premium over the issue price. This suggests a potential listing price of ₹3,061, representing a 104% premium compared to the IPO price. While GMP is not a guarantee of future performance, it serves as an early indicator of market expectations surrounding the company's listing.
Source: Waaree Energies IPO allotment status out. How to check application status online