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The Waaree Energies Initial Public Offering (IPO) has concluded, and the allotment of shares is expected to take place today, October 25th. This IPO, which received an overwhelming response from investors, broke records for the highest number of applications ever received for an IPO in India. The company is expected to finalize the basis of share allotment today after the IPO subscription period ended on October 23rd. Eligible applicants will have their shares credited to their demat accounts by the end of the day, while unsuccessful bidders will receive refunds simultaneously.
Investors eagerly awaiting the allotment results can check their status online through various channels. The BSE and NSE websites provide access to this information, as does the official portal of the IPO registrar, Link Intime India Private Ltd. To check their allotment status on the BSE website, investors can follow a few simple steps: visiting the BSE website, selecting 'Equity' as the issue type, choosing 'Waaree Energies Limited' from the issue name dropdown menu, entering either their Application No. or PAN, verifying they are not a robot, and clicking 'Search.' The allotment status will then be displayed on the screen.
Similarly, investors can access their allotment status on the Link Intime website by visiting the provided URL, selecting 'Waaree Energies Limited' from the company dropdown menu, choosing their identification method (PAN, App. No., DP ID, or Account No.), entering the details as per the selected option, and clicking 'Search.' The allotment status will be displayed on the screen.
The grey market premium (GMP) for Waaree Energies shares is currently showing a strong bullish trend, with a current GMP of ₹1,558 per share. This indicates that in the grey market, shares are being traded at a premium of ₹1,558 over the issue price. Based on the current GMP, the listing price is expected to be around ₹3,061 per share, representing a premium of 104% over the IPO price of ₹1,503 per share. This strong market interest points to a positive outlook for Waaree Energies shares.
Waaree Energies, a leading manufacturer of solar PV modules, launched its IPO from October 21st to October 23rd, with an expected allotment date of October 25th and a listing date of October 28th. The company's equity shares will be listed on both the BSE and NSE. The IPO price band was set at ₹1,427 to ₹1,503 per share, and the company successfully raised ₹4,321.44 crore from the book-built issue. This included a fresh issue of 2.4 crore equity shares worth ₹3,600 crore and an offer for sale (OFS) of 48 lakh shares worth ₹721.44 crore.
The IPO received a resounding response from investors, achieving a total subscription of 76.34 times. The issue received bids for 160.91 crore equity shares, significantly exceeding the offered 2.10 crore shares. The issue received strong support across categories: 10.79 times subscription in the Retail category, 62.49 times in the Non Institutional Investors (NII) category, and 208.63 times in the Qualified Institutional Buyers (QIBs) portion. Axis Capital, IIFL Securities, Jefferies India, Nomura Financial Advisory And Securities (India), SBI Capital Markets, Intensive Fiscal Services, and ITI Capital acted as the book running lead managers for the IPO, while Link Intime India Private Ltd served as the IPO registrar.
Source: Waaree Energies IPO allotment date likely today. Latest GMP, steps to check allotment status online