Waaree Energies Listing: After receiving a record response from investors for its initial public offering (IPO), shares of solar PV module maker Waaree Energies Ltd are set to make their debut on the stock market today.

Waaree Energies’ IPO date is today, October 28. The public issue was open for subscription from October 21 to 23.

“The Trading Members of the Exchange are hereby informed that with effect from Monday, October 28, 2024, the shares of Waaree Energies Limited will be listed and admitted to trading on the Exchange in the List of Group of Securities “B”,” a BSE opinion said.

Waaree Energies shares will be part of the Special Pre-Open Session (SPOS) on Monday, October 28 and the stock will be available for trading from 10:00 a.m.

Waaree Energies GMP’s IPO today, or gray market premium today, indicates a multibagger return on the stock listing today. Analysts also expect Waaree Energies’ IPO today to come at a very high price.

Waaree Energies IPOs GMP today

Waaree Energies shares are showing an exceptional bullish trend in the gray market. Waaree Energies IPO The gray market premium today is between 80 and 100%. According to stock market observers, the IPO of Waaree Energies GMP is today ₹1,274 per share. This indicates that on the gray market, Waaree Energies shares are trading higher by ₹1,274 than their issue price.

Waaree Energies IPO Price

Waaree Energies IPO GMP today announces the listing of its shares at ₹2,777 each, representing a premium of 85% over the IPO price of ₹1,503 per share.

Stock market experts also expect Waaree Energies to IPO today at a premium of around 100%.

“We can expect a strong listing for Waaree Energies, supported by its impressive Gray Market Premium (GMP) of 103.79%. On this basis, the stock is likely to be priced around ₹3,063, reflecting a significant gain of ₹1,560 above the issue price of ₹1,503. The IPO also saw strong demand, with an overall subscription of 79.44 times, indicating strong investor interest,” said Shivani Nyati, head of wealth at Swastika Investmart Ltd.

Given the company’s strong fundamentals, leadership in the solar energy sector and impressive number of subscriptions, the expected listing price appears justified. However, investors should pay attention to post-listing market conditions, which can influence short-term price movements, she added.

“For those who receive an allocation, holding the shares for the long term could be a good strategy, given Waaree Energies’ growth potential in the renewable energy space. However, investors with a short-term view may consider taking partial profits on the listing day, especially if the stock sees a significant rise,” Nyati said.

According to Sagar Shetty, research analyst at StoxBox, Waaree Energies is set to make a strong debut on the stock market today with an expected premium of around 106% over the upper price band.

“The company’s global expansion, competitive pricing and strong order backlog ensure revenue stability, business continuity and sustainable growth while optimizing sourcing and supply chain costs at the end of the year. global scale. We, therefore, suggest investors who have been allotted shares to consider maintaining their positions from a medium to long term perspective,” Shetty said.

Meanwhile, despite the secondary market liquidation, Waaree Energies IPO received the highest subscription response from all investor groups, mainly driven by QIB who bid for a whopping 215x the offer, followed by 65x and retail investors.

“Given the higher subscription demand and the importance of the sector, there is a strong possibility and indication of a blockbuster market debut, which could double the money allocated to investors from the first day of listings justifying the request. For designated investors, we recommend accounting earnings as we believe that post-listing, valuations may extend to a higher level, without taking into account the full visibility of the company’s growth in the medium term,” said Prashanth Tapse, Senior Vice President of Research – Research Analyst at Mehta Equities Ltd.

Waaree Energies IPO Details

The Waaree Energies IPO opened for subscription on October 21 and closed on October 23. IPO Grant Waaree Energies IPO date was October 25 and Waaree Energies IPO date is today, October 28. Shares of Waaree Energies Ltd will be listed on both BSE and NSE stock exchanges.

The company raised ₹4,321.44 crores from the booked issue, which was a combination of fresh issue of 2.4 crore shares worth 2.4 crores. ₹3,600 crore and offer for sale of 48 lakh shares amounting to ₹721.44 million.

The IPO price range for Waaree Energies has been set at ₹1,427 to ₹1,503 per share. The IPO received exceptional demand from investors and broke the record for the highest number of applications received for an IPO.

Waaree Energies IPO has taken place subscribed 76.34 times in total, as it received bids for 160.91 crore shares, against 2.10 crore shares on offer. It attracted subscriptions worth more than ₹2.41 lakh.

The issue received 10.79 times subscription in the Retail category and 62.49 times subscription in the Non-Institutional Investors (NII) category. The share of qualified institutional buyers (QIB) was recorded at 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 lead managers of Waaree Energies IPO, while Link Intime India Private Ltd is the IPO. clerk.

Disclaimer: The opinions and recommendations stated above are those of individual analysts or brokerage firms, and not of Mint. We advise investors to consult certified experts before making any investment decisions.