Today is the listing date for Waaree Energies shares. GMP and experts report over 100% listing returns for share recipients

Waaree Energies IPO Listing: After receiving a record investor response to its initial public offering (IPO), shares of solar photovoltaic module manufacturer Waaree Energies Ltd are set to debut on the stock market today.

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

“Trading members of the Exchange are hereby notified 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 Group B List of Securities,” the notice said. they said at the BSE.

Waaree Energies shares will participate in a special preliminary session (SPOS) on Monday, October 28, and the shares will be available for trading from 10:00 am.

Waaree Energies GMP IPO today, or gray market premium today, indicates strong returns from today’s share listing. Analysts also expect Waaree Energies’ IPO to be very expensive today.

Waaree Energy GMP IPO today

Waaree Energies shares are showing a stellar bullish trend in the gray market. Waaree Energies IPO gray market premium today is in the range of around 80% – 100%. According to stock market observers, today’s Waaree Energies GMP IPO ₹1274 per share. This indicates that in the gray market, Waaree Energies shares are trading higher by ₹1274 is more expensive than their selling price.

Waaree Energies IPO Listing Price

Waaree Energies GMP IPO today signals listing of shares on ₹2,777 per piece, representing an 85% premium to the IPO price ₹1503 per share.

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

“We can expect a strong listing for Waaree Energies, backed by an impressive gray market premium (GMP) of 103.79%. Based on this, the stock is likely to trade around ₹3063, reflecting a significant increase ₹1560 higher than the issue price ₹1503. The IPO also saw strong demand with a total subscription of 79.44 times, indicating strong investor interest,” said Shivani Nyathi, Head of Wealth, Swastika Investmart Ltd.

Given the company’s strong fundamentals, leadership in the solar energy sector, and huge following, the expected listing price seems justified. However, investors should be mindful of post-listing market conditions, which could impact short-term price movements, she added.

“For those who get a stake, holding shares for the long term could be a good strategy given Waaree Energies’ growth potential in the renewable energy space. However, short-term focused investors may consider taking partial profits on listing day, especially if the stock sees significant gains,” Nyathi said.

According to Sagar Shetty, research analyst at StoxBox, Waaree Energies shares are poised for a strong stock market debut today with an expected premium of around 106% to the top price range.

“The company’s global expansion, competitive pricing and strong order book provide revenue stability, business continuity and sustainable growth while optimizing sourcing and supply chain costs around the world. Therefore, we suggest that investors who have been allocated shares consider maintaining their positions in the medium to long term,” Shetty said.

Meanwhile, despite the sell-off in the secondary market, the Waaree Energies IPO received the strongest response from all investors, led by QIBs, which bid at 215x the offer, followed by 65x and retail investors.

“Given the highest demand for subscriptions and the importance of the sector, there is a high probability and indication of a blockbuster market debut that could double the money allocated to investors on the first day of listing justifying the demand. For dedicated investors, we recommend book earnings as we believe the published list of valuations may be stretched without taking into account the full visibility of medium-term growth of the business,” said Prashant Tapse, senior vice president, research and research analyst at Mehta Equities Ltd.

Waaree Energy IPO details

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

The company collected ₹4,321.44 crores from the registered issue, which was a combination of fresh issue of equity shares amounting to 2.4 crores. ₹3600 crores and offer for sale of 48 lakh shares worth ₹721.44 crores.

Waaree Energies IPO price range has been set at ₹from 1427 to ₹1503 per share. The IPO generated stellar demand from investors and broke the record for the number of IPO applications received.

The Waaree Energies IPO was subscribed a total of 76.34 times as the company received bids for 160.91 crore shares as against 2.10 crore shares in the offer. It attracted subscriptions worth more than ₹2.41 million crores.

The issue received 10.79x subscription in the Retail category and 62.49x subscription in the Non-Institutional Investors (NII) category. Qualified institutional buyers (QIB) share was booked 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 the lead managers for the Waaree Energies IPO, while Link Intime India Private Ltd is the IPO lead manager. registrar

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