Waaree Energies IPO: The much-anticipated IPO of Waaree Energies is expected to debut with robust returns, as indicated by strong interest in the grey market. On Monday, the grey market premium (GMP) for Waaree Energies shares signals a potential listing at a hefty premium, with shares expected to yield high returns.


Waaree Energies IPO Grey Market Premium (GMP) Today


Waaree Energies shares are experiencing significant bullish sentiment in the grey market. According to market observers, the IPO's GMP on Monday hovers between 80 per cent to 100 per cent, with Waaree Energies shares trading at an impressive Rs 1,274 above their issue price of Rs 1,503 per share. This puts the anticipated listing price at around Rs 2,777, representing a premium of about 85 per cent on the issue price.


Expected Listing Price


Stock market experts predict a listing price close to Rs 2,777 per share, translating to a premium of around 85 per cent over the IPO price. Some analysts even foresee an opening that could touch or exceed a 100 per cent premium, given the overwhelming response in the grey market.


IPO Details and Subscription Rates


The IPO was open from October 21 to October 23, priced between Rs 1,427 and Rs 1,503 per share, with a minimum bid size of nine shares per lot. Waaree Energies successfully raised Rs 4,321.44 crore, with a fresh issue valued at Rs 3,600 crore and an Offer for Sale (OFS) comprising up to 48 lakh equity shares.


The IPO received an extraordinary response, achieving an overall subscription rate of 76.34 times. Qualified Institutional Buyers (QIBs) were the most active, with their portion subscribed 208.63 times. Non-institutional investors (NIIs) booked 62.49 times, while retail investors and employees showed strong interest as well, with subscriptions at 10.79 times and 5.17 times, respectively.


About Waaree Energies


Founded in December 1990, Waaree Energies is one of India’s top manufacturers of solar photovoltaic (PV) modules, with a total installed capacity of 12 GW. The company’s product range includes multicrystalline, monocrystalline, and TopCon solar PV modules.


Use of IPO Proceeds


The funds from the fresh issue will support the development of a 6 GW ingot wafer, solar cell, and solar PV module manufacturing facility in Odisha. Additional funds will be allocated for general corporate purposes.


With the combination of strong market interest and a high GMP, Waaree Energies is set to make a solid market debut, with investors eyeing substantial returns from the listing.