Waaree Energies IPO Registrar To Start Crediting Shares Soon — Details Here

Waaree Energies IPO Allotment: The allotment for the Waaree Energies IPO that was expected to be finalised on October 24 was finalised on October 25. Investors had to wait anxiously for the allotment even as GMP reached a new high ahead of its listing on Monday.

Link Intime India will start crediting the shares to the demat accounts of successful bidders soon.

The initial public offer of solar panel maker Waaree Energies Ltd. was subscribed 76.34 times on Wednesday, helped by strong participation from institutional buyers.

Waaree Energies IPO received the highest number of applications at the upper price band ever received for the book-build issue. The public issue of India's largest solar module manufacturer by capacity, worth Rs 4,321 crore, received 97.34 lakh applicants.

Investors can check the Waaree Energies IPO allotment status on Link Intime India and on the BSE website. Steps to check allotment status has been shared below.

• Visit the IPO allotment page on Link Intime India here.

• Choose 'Waaree Energies Limited' from the list of companies in the dropdown.

• Select either PAN, Application Number, DP/Client ID or Account Number/IFSC to verify your allotment status.

• Enter the required information based on your selection above.

• Click the 'Submit' button to check your allotment status.

• Go to the IPO allotment page on the BSE website here.

• Select the issue type as 'Equity.'

• Choose 'Waaree Energies Limited' from the dropdown menu.

• Enter your application number or PAN (Permanent Account Number).

• Complete the 'Captcha' for verification.

• Click on the 'Search' button to view your allotment status.

The grey market premium of Waaree Energies IPO is Rs 1590 as of 8:56 a.m. on Oct. 25, implying a 105.79% gain over the IPO price, according to Chittorgarh's unit Investorgain.

The estimated listing price based on the GMP is Rs 3093 per share. This is also the highest price which the IPO has clocked in the grey market post the confirmation of the price band on October 16.

Note: GMP or grey market price is not an official price quote for the stock and is based on speculation.

The Rs 4,321.44 crore IPO received bids for 1,60,91,70,633 shares against 2,10,79,384 shares on offer, as per NSE data.

Waaree Energies last week said it has mobilised Rs 1,277 crore from anchor investors. The IPO price band was between Rs 1,427-1,503 per share.

The Waaree Energies IPO is a combination of a fresh issue of equity shares aggregating to Rs 3,600 crore and an Offer For Sale (OFS) of 48 lakh equity shares worth Rs 721.44 crore, at the upper end of the price band, by a promoter and existing shareholders. This translates into a total size of Rs 4,321.44 crore.

The company's shares will be listed on the BSE and the National Stock Exchange on October 28.

Axis Capital, IIFL Securities, Jefferies India, Nomura Financial Advisory and Securities (India) Private Ltd, SBI Capital Markets, Intensive Fiscal Services and ITI Capital are the book-running lead managers to the issue.

(With PTI inputs)

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read red herring prospectus thoroughly before placing bids.