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Waaree Energies IPO Listing 2024 Live: The Waaree Energies IPO is showing a robust gray market premium (GMP) ahead of its listing on October 28. The IPO has been oversubscribed nearly 80 times, with investors able to check their allotment status on the registrar’s website. Waaree Energies aimed to raise Rs 4,321.44 crore and received bids worth Rs 2.42 crore. Retail buyers subscribed to the issue 11.27 times, while non-institutional investors (NIIs) subscribed 65.25 times.
The Waaree Energies IPO was open for subscription from October 21 to October 23. The book-running lead managers for the IPO included Axis Capital, IIFL Securities, Jefferies India, Nomura Financial Advisory and Securities (India), SBI Capital Markets, Intensive Fiscal Services, and ITI Capital. For live updates on Waaree Energies, follow our live blog.
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Live Updates
Waaree Energies IPO Listing GMP 2024 Live
23:21 (IST) 27 Oct 2024
Waaree Energies IPO Listing Live: Anand Rathi Research's IPO note
“The company’s solar PV module warranties are insured by external parties, which requires it to maintain high standards for insurance approval. It received a tier-1 PV module maker rating from Bloomberg New Energy Finance between Fiscal 2018 and Fiscal 2024. Certain of its laboratories are accredited by the National Accreditation Board for Testing and Calibration Laboratories (“NABL”) which tests solar PV modules for quality checks. Further, it ensures that manufacturing facilities are regularly audited by quality audit firms. It is also included under the ALMM list identified by the GoI, which enables the company to participate in various government schemes aimed at developing the solar industry in India. WEL also manufactures semi-flexible solar panels for sale to global customers through its in-house research and development in product application.”
22:48 (IST) 27 Oct 2024
Waaree Energies IPO Listing Live: Top investment firms back IPO
The book-running lead managers for the Waaree Energies IPO are Axis Capital Limited, IIFL Securities Ltd, Jefferies India Private Limited, Nomura Financial Advisory and Securities (India) Pvt Ltd, SBI Capital Markets Limited, Intensive Fiscal Services Private Limited, and ITI Capital Ltd. The registrar for the issue is Link Intime India Private Ltd.
22:05 (IST) 27 Oct 2024
Waaree Energies IPO Listing Live: InCred Equities' IPO note
“During FY20-24, the company’s revenue/EBITDA/PAT clocked a CAGR of 55%/103%139%, respectively, as the EBITDA margin improved from 4.8% in FY20 to 13.8% in FY24. In 1QFY25, the company’s revenue was at Rs34bn (+2% YoY) while EBITDA and PAT stood at Rs 550 crore (+18% YoY) and Rs 400 crore (+19% YoY), respectively. Based on FY25F annualized financials, the IPO’s higher band implies an EV/EBITDA of 18x, and a P/E of 27x, which is at a discount to its peers, in our view. We recommend subscribing to the IPO, given the strong financials, strong industry tailwinds with long-term opportunities in the solar industry, robust order backlog and further expansion plans.”
20:26 (IST) 27 Oct 2024
Waaree Energies IPO Listing Live: Share allocation across various categories
The Waaree Energies IPO offers a total of 28,752,094 shares, amounting to Rs 4,321.44 crore, with a diverse allocation across several investor categories. Leading the pack, anchor investors secured 8,495,887 shares worth Rs 1,276.93 crore. Qualified Institutional Buyers (QIBs) follow, receiving 5,538,663 shares valued at Rs 832.46 crore. Non-Institutional Investors (NIIs) have been allocated 4,373,206 shares, amounting to Rs 657.29 crore, covering bids both above and below Rs 10 lakh. Retail investors are significant participants, with an allocation of 9,911,869 shares worth Rs 1,489.75 crore. Lastly, employees have a smaller allocation of 432,468 shares valued at Rs 65 crore.
19:43 (IST) 27 Oct 2024
Waaree Energies IPO Listing Live: Manufacturing facilities across India
Waaree Energies operates five manufacturing facilities across India, spanning a total area of 143.01 acres. These facilities are located in Surat, Tumb, Nandigram, and Chikhli in Gujarat, as well as in Noida, Uttar Pradesh, the latter being managed by its subsidiary, IndoSolar Limited.
19:01 (IST) 27 Oct 2024
Waaree Energies IPO Listing Live: 79.44x overall subscription
Waaree Energies' IPO received an overwhelming response with an overall subscription of 79.44 times. The Qualified Institutional Buyers (QIB) category led the way with a subscription rate of 215 times, while Non-Institutional Buyers subscribed 65.25 times. Retail Investors showed strong interest, oversubscribing by 11.27 times, and the employee allocation segment saw a 5.45 times oversubscription.
17:23 (IST) 27 Oct 2024
Waaree Energies IPO Listing Live: How to check your share allotment status?
Step 1:
Open a web browser on your computer and go to the Link Intime India website, the registrar managing the Waaree Energies IPO.
Step 2:
On the homepage, find and click on the “Public Issue” section located on the left side of the page.
Step 3:
Fill in the required information, such as the company name (Waaree Energies) and your PAN number, application number, client ID, or account number.
Step 4:
Click the “Submit” button.
Step 5:
Your allotment status will be displayed on the screen.
16:53 (IST) 27 Oct 2024
Waaree Energies IPO Listing Live: Leading firms back IPO
Leading firms, including Axis Capital, IIFL Securities, Jefferies India, Nomura Financial Advisory, SBI Capital Markets, Intensive Fiscal Services, and ITI Capital, acted as book-running lead managers for the IPO, offering robust support for the offering.
16:08 (IST) 27 Oct 2024
Waaree Energies IPO Listing Live: Allotment status announced, shares to List on BSE, NSE tomorrow
The IPO allotment status for Waaree Energies was made public on Friday. Following the 'T+3' listing rule, applicants had anticipated the announcement on Thursday after three days of record bidding concluded on Wednesday evening. With the share allocation now confirmed, Waaree Energies' IPO listing date is set for October 28, 2024, which falls on Monday next week. Trading of Waaree Energies' shares will commence on the BSE and NSE from 10:00 AM on Monday.
14:47 (IST) 27 Oct 2024
Waaree Energies IPO Listing Live: Strong Interest in Waaree Energies IPO
As of October 23, 2024, the Waaree Energies IPO has reached a subscription level of 79.44 times.
14:22 (IST) 27 Oct 2024
Waaree Energies IPO Listing Live: Key dates
13:45 (IST) 27 Oct 2024
Waaree Energies IPO Listing Live: Categories of Investors in IPOs
Qualified Institutional Buyers (QIB)Qualified Institutional Buyers include financial institutions, banks, Foreign Institutional Investors (FIIs), and mutual funds registered with SEBI. They typically represent small investors who invest through various vehicles such as mutual funds, ULIPs offered by insurance companies, and pension schemes.
Non-Institutional Investors (NII)Non-Institutional Investors are retail individual investors (HNI), NRIs, companies, trusts, etc., who bid for shares worth more than Rs 2 lakhs. Unlike QIBs, NIIs are not required to have SEBI registration.
Retail Individual Investors (RII)Retail Individual Investors, including NRIs, who apply for up to Rs 2 lakhs in an IPO fall into this reserved category.
Employee (EMP)This category includes eligible employees who have a reserved quota in the IPO.
OthersThis category comprises eligible shareholders or other investors who have a reserved quota in the IPO.
13:16 (IST) 27 Oct 2024
Waaree Energies IPO Listing Live: Anchor investor details
Waaree Energies IPO has successfully raised Rs 1,276.93 crore from anchor investors. The anchor bid date for the IPO was October 18, 2024.
12:16 (IST) 27 Oct 2024
Waaree Energies IPO Listing Live: Last GMP at Rs 1300
As of October 27, 2024, at 11:23 AM, the last gray market premium (GMP) for the Waaree Energies IPO is Rs 1300. With a price band set at Rs 1503.00, the estimated listing price for the IPO is projected to be Rs 2803, which is the sum of the cap price and today's GMP. This indicates an expected percentage gain of 86.49% per share upon listing.
11:39 (IST) 27 Oct 2024
Waaree Energies IPO Listing Live: IPO Allotment Status
To check your Waaree Energies IPO allotment status, follow these steps:
11:00 (IST) 27 Oct 2024
Waaree Energies IPO Listing Live: Promoter Holding
The promoters of the company include Hitesh Chimanlal Doshi, Viren Chimanlal Doshi, Pankaj Chimanlal Doshi, and Waaree Sustainable Finance Private Limited.
10:13 (IST) 27 Oct 2024
Waaree Energies IPO Listing Live: Lead managers and registrar
The book-running lead managers for the Waaree Energies IPO include Axis Capital Limited, IIFL Securities Ltd, Jefferies India Private Limited, Nomura Financial Advisory and Securities (India) Pvt Ltd, SBI Capital Markets Limited, Intensive Fiscal Services Private Limited, and ITI Capital Ltd. Link Intime India Private Ltd will serve as the registrar for the issue.
09:37 (IST) 27 Oct 2024
Waaree Energies IPO Listing Live: Day 3 subscription details
The final day of the subscription witnessed a remarkable spike, with QIBs leading the way at 215.03 times. NIIs also showcased strong interest, subscribing at 65.25 times. Retail investors followed suit with an impressive 11.27 times subscription. Employees saw a subscription of 5.45 times, culminating in an overall total subscription of 79.44 times for the IPO.
09:07 (IST) 27 Oct 2024
Waaree Energies IPO Listing Live: Day 2 subscription details
The second day saw a significant increase in interest, especially from QIBs, which subscribed at 1.82 times. The NII category surged to 24.75 times, while retail subscriptions rose to 6.69 times. Employees maintained their interest at 3.30 times, resulting in a total subscription of 9.19 times by the end of Day 2.
08:45 (IST) 27 Oct 2024
Waaree Energies IPO Listing Live: Day 1 subscription details
On the first day of the Waaree Energies IPO, the subscription figures were relatively low, with the Qualified Institutional Buyers (QIB) subscribing at 0.08 times, and the Non-Institutional Investors (NII) at 8.22 times. Retail investors showed more interest, with a subscription rate of 3.34 times, while Employees (EMP) subscribed at 1.68 times, leading to a total subscription of 3.47 times.
