Waaree Energies Share Price Live Updates: Waaree Energies is set to begin trading on the stock exchanges today at 10:00 IST. The company’s initial public offering, aimed at solar panel production, was subscribed 76.34 times on the final day of the share sale, which occurred on Wednesday, October 23, thanks to significant interest from institutional investors.
The initial share sale, totalling ₹4,321.44 crore, received bids for 1,60,91,70,633 shares against the 2,10,79,384 shares that were available, according to data from the BSE.
The segment allocated for Qualified Institutional Buyers (QIBs) saw an impressive 208.63 times subscription. Non-institutional investors subscribed 62.49 times, while Retail Individual Investors (RIIs) achieved a subscription rate of 10.79 times.
This initial offering recorded one of the highest numbers of applications, totalling ₹97.34 lakh. Overall, the public offer attracted a subscription amount exceeding ₹2.41 lakh crore.
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Waaree Energies Share Price Live Updates: Consider holding the stock from a medium to long-term, says expert
Sagar Shetty, Research Analyst, Stoxbox said that Waaree Energies Ltd. made an impressive debut at the stock exchanges today, opening at a premium of 70% over its upper price band.
The company’s global expansion, competitive pricing, and strong order book ensure revenue stability, business continuity, and sustainable growth while optimizing worldwide sourcing and supply chain costs. We thus recommend that investors allotted shares consider holding their positions from a medium to long-term perspective.
Waaree Energies Share Price Live Updates: Check out the company’s listed peers
The company’s listed peers are Websol Energy System Ltd, and Premier Energies Ltd (with a P/E of 151.13).
Waaree Energies Share Price Live Updates: Stock slips in red post robust listing
Waaree Energies share price slumped near 4% on the NSE post a blockbuster listing. At 10:06 IST, Premier Energies share price was trading at ₹2,402 apiece, and on the BSE, the stock was down over 7%, trading at ₹2,360.30.
Waaree Energies Share Price Live Updates: Stock makes a bumper debut, opens with 66.33% premium at ₹on NSE
Waaree Energies share price made a bumper debut on the bourses today. On NSE, Waaree Energies share price opened at ₹2,500 per share, 66.33% higher than the issue price of ₹1,503. On BSE, Waaree Energies share price today opened at ₹2,550 apiece, up 69.66% than the issue price.
Waaree Energies Share Price Live Updates: Check out company details
Established in December 1990, Waaree Energies Limited is an Indian firm that manufactures solar PV modules and operates with a combined installed capacity of 12 GW. The assortment of solar energy products includes Multicrystalline modules, Monocrystalline modules, and TopCon modules, which consist of flexible bifacial modules (Mono PERC) in both framed and unframed versions, as well as building-integrated photovoltaic (BIPV) modules.
Waaree Energies Share Price Live Updates: Check out key details of the issue
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Waaree Energies Share Price Live Updates: Waaree Energies received record-breaking response from investors
The highest recorded number of applications (97.34 lakh) and demand (Rs. 2.41 lakh crore) for any IPO at the upper price band has been achieved, with a net public issue amounting to Rs. 4,321 crore (excluding the anchor investor segment of Rs. 1,276.93 crore).
Waaree Energies Limited has surpassed the previous records held by Bajaj Housing Finance, Tata Technologies, and LIC IPO, becoming the company with the most applications in IPO history.
The interest shown in this IPO reflects the optimistic sentiment and confidence that investors have in the solid fundamentals of Waaree Energies Limited, as well as the expectations for its next growth phase supported by well-structured business plans.
Waaree Energies Share Price Live Updates: Here’s all you need to know about the issue
The company plans to raise up to ₹3,600 crore through an initial public offering by issuing fresh equity shares. Additionally, there will be an offer for sale of up to 4,800,000 equity shares with a face value of ₹10 each.
Promoter Waaree Sustainable Finance Private Ltd and shareholder Chandurkar Investments Pvt Ltd are selling the OFS shares, as mentioned in the Red Herring Prospectus (RHP).
The book running lead managers for the Waaree Energies IPO include Axis Capital Limited, Iifl Securities Ltd, Jefferies India Private Limited, Nomura Financial Advisory And Securities (India) Pvt Ltd, SBI Capital Markets Limited, Intensive Fiscal Services Private Limited, and Iti Capital Ltd. Additionally, Link Intime India Private Ltd is serving as the registrar for the issue.
Waaree Energies Share Price Live Updates: Investors with a short-term view may consider booking partial profits…, says expert
According to Shivani Nyati, who leads Wealth at Swastika Investmart Ltd, Waaree Energies is anticipated to have a strong debut, bolstered by a notable grey market premium (GMP) of 103.79%. Given this, the stock is projected to debut around ₹3,063, signifying a substantial increase of ₹1,560 from the issue price of ₹1,503. The IPO also saw significant interest, with an overall subscription rate of 79.44 times, highlighting robust investor demand.
For those who receive an allotment, holding the stock for the long term could be a good strategy, considering Waaree Energies’ growth potential in the renewable energy space. However, investors with a short-term view may consider booking partial profits on listing day, especially if the stock sees a significant surge.
Waaree Energies Share Price Live Updates: Post listing the valuations can over stretch…., says Prashanth Tapse of Mehta Equities Ltd
According to Prashanth Tapse, Sr VP Research – Research Analyst of Mehta Equities Ltd, despite markets selloff, Waaree Energies received strongest subscription response from all sets of investors mainly driven by the QIB who bid for whopping 215x times the offer followed by 65x and Retail Investors.
Considering strongest subscription demand and sector importance, there is a high possibility and an indication of a blockbuster market debut, which can double allotted investors’ money on day one of listings justifying the demand. For allotted investors, we recommend to book profits as we believe post listing the valuations can over stretch on a higher side discounting all the medium term business growth visibility.
Waaree Energies Share Price Live Updates: Here’s what GMP indicates ahead of listing
Waaree Energies IPO GMP today is +1,275. This indicates Waaree Energies share price was trading at a premium of ₹1,275 in the grey market, according to investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Waaree Energies share price is indicated at ₹2,778 apiece, which is 84.83% higher than the IPO price of ₹1,503.
According to the grey market activities over the past 15 sessions, today’s IPO GMP is showing an upward trend, suggesting a robust listing. The minimum GMP recorded is ₹0, while the maximum reaches ₹1,590, as reported by experts at investorgain.com.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.
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