Waaree Energies' IPO share allotment is expected to be finalized today, with shares allocated through a lottery system under the supervision of the registrar. On this day, investors will learn how many shares they’ve secured against their bids. The status can be checked via the BSE website or by visiting the registrar’s site. Below is the process for checking the allotment status:
How to Check Waaree Energies IPO Allotment Status on BSE:
- Visit the BSE website: BSE IPO Status.
- From the dropdown menu, select the issue name, i.e., Waaree Energies.
- Enter your application number or PAN number to view the allotment status.
To Check Through Registrar (Link Intime India):
- Visit the Link Intime India website: Link Intime IPO Status.
- Select Waaree Energies IPO.
- Enter your PAN details and click “Search” to see your status.
Waaree Energies GMP
The company’s shares are set to debut on exchanges on October 28. In the grey market, they are trading at a premium of Rs 1,480, which represents a 98% surge over the issue price.
IPO Subscription Response
Waaree’s Rs 4,321 crore IPO saw a staggering demand, with total bids reaching Rs 2.41 lakh crore. The issue was subscribed 76 times, driven by 208 times subscription in the institutional segment and 62 times in the non-institutional portion. The funds raised will support the company’s strategic initiatives, such as establishing a 6 GW production facility for ingots, wafers, solar cells, and PV modules in Odisha, alongside general corporate expenditures.
About Waaree Energies
Waaree Energies holds the distinction of being India’s largest solar PV module manufacturer, with a total installed capacity of 12 GW as of June 2024. In the domestic market, it ranked second in operating income among solar PV manufacturers in FY2024. The company is expanding its global reach with the development of a 3 GW facility in the United States, enhancing its operational diversity.
For FY2024, Waaree reported a 69% surge in revenue from operations, hitting Rs 11,398 crore. Profits after tax more than doubled, reaching Rs 1,274 crore.
The book-running lead managers for the issue are Axis Capital, IIFL Securities, Jefferies India, Nomura Financial, SBI Capital, Intensive Fiscal Services, and ITI Capital.
published by dailybharat
