Waaree Energies is scheduled to finalize the basis of allotment of its shares on Thursday, October 24. Bidders will get the messages, alerts or emails for debit of their funds or revocations of their IPO mandate latest by Friday, October 25. The Mumbai-based solar player saw a historic response from the investors.
The IPO of Waaree Energies was open for bidding between October 21 and October 23. It had offered its shares in the fixed price band of Rs 1,427-1,503 per share with a lot size of nine shares. The company raised a total of Rs 4,321.44 crore from its IPO, which included a fresh share sale of Rs 3,600 crore and offer-for-sale (OFS) of up to 48 lakh equity shares.Hyderabad Wealth Management
The issue was overall subscribed a solid 76.34 times, thanks to the strong interest from qualified institutional bidders (QIBs), whose quota was booked a stellar 208.63 timesAgra Investment. The allocation for non-institutional investors(NIIs) was booked 62.49 times. The portions retail investors and employees were subscribed 10.79 times and 5.17 times, respectively during the bidding process.Udabur Stock
Grey market premium (GMP) of Waaree Energies has seen a sharp upsurge following a bumper response from investors. Last heard, the company was commanding a premium of Rs 1,550-1,570 in the unofficial market, indicating for more than 105 per cent returns for investors, signaling it as another multibagger in making.
Mumbai-based Waaree Energies, incorporated in December 1990, is an Indian manufacturer of solar PV modules with an aggregate installed capacity of 12 GW. The product portfolio of solar energy products consists of the PV modules such as multicrystalline modules; Monocrystalline modules; and TopCon modules.
Brokerages had a positive view on the issue and suggested subscribing it due to strong financial record, rising solar power demand, robust market shares, growth potential in future, expansion plans expansions and reasonable valuations. However, dependence on China for raw material, reliability on limited players and any changes in government policy were key concerns.
Axis Capital, Jefferies India, IIFL Securities, Nomura Financial Advisory & Securities (India), SBI Capital Markets, Intensive Fiscal Services and ITI Capital are the book running lead managers of the Waaree Energies IPO, while Link Intime India is the registrar for the issue.
Investors, who had bid for the issue of Waaree Energies, can check the allotment status on the Bombay Stock Exchange (BSE) website:Jaipur Investment
1) Visit
2) Under the issue type, click Equity
3) Under the issue name, select Waaree Energies Limited in the dropbox
4) Write the application number
5) Add the PAN card ID
6) Click on ‘I am not a Robot’ and hit search button
Investors can also check the allotment status on the online portal of Link Intime India (), the registrar to the issue.
The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. It is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries post issue.Guoabong Wealth Management
1) Go to the web portal of Link Intime Limited
2) Select the IPO/FPO in dropbox whose name will be populated only if the allotment is finalized
3) You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID
4) In application type, select between ASBA and non-ASBA
5) Enter the details of the mode you selected in Step 2
6) For security purposes, fill the captcha accurately
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