Waaree Energies IPO: Here's how to check allotment status online
Waaree Energies IPO: Here's how to check allotment status online
24 Oct 2024
Waaree Energies Limited will finalize the allotment for its initial public offering (IPO) today.
The IPO has received tremendous response, especially from the Qualified Institutions Buyer (QIB) category.
The public issue has been subscribed a whopping 79.44 times in total, including 11.27 times in the retail segment, 215.03 times in the QIB category, and 65.25 times among Non-Institutional Investors (NII).
IPO details and investor participation
Investment specifics
The price band for Waaree Energies's IPO was fixed between ₹1,427 and ₹1,503 per share.
Investors had to apply for a minimum of nine shares or in multiples thereof.
The company planned to raise ₹4,321.44 crore from this public issue, including ₹3,600 crore from fresh issue and remaining from the sale of up to 48 lakh equity shares through offer-for-sale (OFS) route.
How to check Waaree Energies IPO allotment status
Allotment status
Investors who have bid for the Waaree Energies IPO can check their allotment status online.
They can do so by visiting either the Bombay Stock Exchange (BSE) website or the website of Link Intime India Private Ltd, the registrar for this issue.
On these platforms, investors need to select 'Waaree Energies Limited' and enter their application number along with PAN card ID or Demat account details.
Waaree Energies IPO's gray market premium and listing details
Market performance
The latest Gray Market Premium (GMP) for Waaree Energies IPO is ₹1,560. Considering the price band of ₹1,503, the estimated listing price comes to ₹3,063 (cap price plus today's GMP), reflecting an expected gain of 103.79% per share.
The shares will debut on both BSE and NSE with a tentative listing date on Monday, October 28.
Waaree Energies's market valuation and future plans
Company valuation
Post-issue, Waaree Energies's market valuation will be over ₹4,300 crore at the upper end of the price band.
The company will credit shares into the demat accounts of eligible applicants on October 25 and initiate refunds for unsuccessful bidders on the same day.
The funds raised from this fresh issue will be utilized to set up a 6GW Ingot Wafer, Solar Cell, and Solar PV module manufacturing facility in Odisha.