Waaree Energies IPO listing date today. GMP, experts signal over 100% listing gains for allottees
- Waaree Energies IPO listing date is today, October 28. Waaree Energies IPO GMP today indicates a multibagger return on share listing today. Analysts also expect Waaree Energies IPO listing today to be at a hefty premium.
Waaree Energies IPO Listing: After receiving record-breaking response from investors for its initial public offering (IPO), the equity shares of solar PV modules manufacturer Waaree Energies Ltd are set to make their stock market debut today.
Waaree Energies IPO listing date is today, October 28. The public issue was open for subscription from October 21 to 23.
“Trading Members of the Exchange are hereby informed that effective from Monday, October 28, 2024, the equity shares of Waaree Energies Limited shall be listed and admitted to dealings on the Exchange in the list of ‘B’ Group of Securities,” a notice on BSE said.
Waaree Energies shares will be a part of Special Pre-open Session (SPOS) on Monday, October 28, and the stock will be available for trading from 10:00 AM.
Waaree Energies IPO GMP today, or grey market premium today, indicates a multibagger return on share listing today. Analysts also expect Waaree Energies IPO listing today to be at a hefty premium.
Waaree Energies IPO GMP Today
Waaree Energies shares are showing a stellar bullish trend in the grey market. Waaree Energies IPO grey market premium today, is in the range of around 80% - 100%. According to stock market observers, Waaree Energies IPO GMP today is ₹1,274 per share. This indicates that in the grey market, Waaree Energies shares are trading higher by ₹1,274 than their issue price.
Waaree Energies IPO Listing Price
Waaree Energies IPO GMP today signals share listing at ₹2,777 apiece, a premium of 85% to the IPO price of ₹1,503 per share.
Stock market experts also expect Waaree Energies IPO listing today at a premium of around 100%.
“We can expect a strong listing for Waaree Energies, supported by its impressive grey market premium (GMP) of 103.79%. Based on this, the stock is likely to list around ₹3,063, reflecting a significant gain of ₹1,560 over the issue price of ₹1,503. The IPO also received robust demand, with an overall subscription of 79.44 times, indicating strong investor interest,” said Shivani Nyati, Head of Wealth, Swastika Investmart Ltd.
Given the company's strong fundamentals, leadership in the solar energy sector, and the overwhelming subscription numbers, the expected listing price seems justified. However, investors should be mindful of market conditions post-listing, which can influence short-term price movements, she added.
“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,” Nyati said.
According to Sagar Shetty, Research Analyst, StoxBox, Waaree Energies is set for a robust stock market debut today with an expected premium of around 106% over the upper price band.
“The company’s global expansion, competitive pricing, and strong order book ensure revenue stability, business continuity, and sustainable growth while optimising worldwide sourcing and supply chain costs. We, therefore, suggest that investors who have been allotted shares consider maintaining their positions with a medium to long-term outlook,” Shetty said.
Meanwhile, despite secondary market selloff, Waaree Energies IPO received the 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 book profits as we believe post listing the valuations can over stretch on a higher side discounting all the medium term business growth visibility,” said Prashanth Tapse, Sr VP Research – Research Analyst at Mehta Equities Ltd.
Waaree Energies IPO Details
Waaree Energies IPO opened for subscription on October 21 and closed on October 23. The IPO allotment date was October 25, and Waaree Energies IPO listing date is today, October 28. The equity shares of Waaree Energies Ltd will be listed on both the stock exchanges, BSE and NSE.
The company raised ₹4,321.44 crore from the book-built issue which was a combination of fresh issue of 2.4 crore equity shares worth ₹3,600 crore and offer for sale of 48 lakh shares amounting to ₹721.44 crore.
Waaree Energies IPO price band was set at ₹1,427 to ₹1,503 per share. The IPO received stellar demand from investors and broke record with highest ever number of applications received for an IPO.
Waaree Energies IPO was subscribed 76.34 times in total as it received bids for 160.91 crore equity shares as against 2.10 crore shares on the offer. It attracted subscriptions worth over ₹2.41 lakh crore.
The issue received 10.79 times subscription in the Retail category and 62.49 times subscription in the Non Institutional Investors (NII) category. The Qualified Institutional Buyers (QIBs) portion was booked 208.63.
Axis Capital, IIFL Securities, Jefferies India, Nomura Financial Advisory And Securities (India), SBI Capital Markets, Intensive Fiscal Services and ITI Capital Ltd are the book running lead managers of the Waaree Energies IPO, while Link Intime India Private Ltd is the IPO registrar.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
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