Waaree Energies IPO Listing: Check Allotment, GMP, and Everything You Need to Know

The allotment of Waaree Energies’ IPO shares is set to be determined today using a lottery system overseen by the registrar. This is when investors will discover the number of shares they have been awarded based on their bids. To check the allotment status, investors can either visit the BSE website or the registrar’s portal. Here is the procedure for verifying the allotment status:

Discovering the Allotment Status of Waaree Energies IPO on BSE: Ways to Do It

Check out the status of BSE IPO on their official website.
Choose the problem name, Waaree Energies, from the drop-down selection.
Type in either your application number or PAN number to check the allocation status.

Exploring Registrar for Verification (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 debut of the company’s shares on exchanges is scheduled for October 28. Currently, in the grey market, they are being traded at a premium of Rs 1,480, signifying a remarkable 98% increase from the issue price.

IPO Subscription Response

Waaree’s initial public offering (IPO) of Rs 4,321 crore witnessed an overwhelming response, as total bids soared to Rs 2.41 lakh crore. The IPO was oversubscribed by 76 times, fueled by a 208-fold subscription in the institutional category and a 62-fold in the non-institutional segment. The capital raised will bolster the company’s strategic endeavors, including the setup of a 6 GW manufacturing unit for ingots, wafers, solar cells, and PV modules in Odisha, in addition to meeting general corporate expenses.

About Waaree Energies

Waaree Energies is recognized as the leading solar PV module manufacturer in India, boasting a massive installed capacity of 12 GW by June 2024. Domestically, it secured the second position in terms of operating income among solar PV manufacturers in the fiscal year 2024. Its global presence is on the rise, with plans to establish a significant 3 GW facility in the United States, thereby enriching its operational portfolio.

In the fiscal year 2024, Waaree witnessed a significant 69% growth in operational revenue, amounting to Rs 11,398 crore. Moreover, the company’s post-tax profits soared by over two-fold, totaling Rs 1,274 crore.

The issue’s book-running lead managers include Axis Capital, IIFL Securities, Jefferies India, Nomura Financial, SBI Capital, Intensive Fiscal Services, and ITI Capital.