Waaree Energies IPO Allotment Today: How To Check Status Online And Latest GMP

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

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.

The quota for Qualified Institutional Buyers (QIBs) got a whopping 208.63 times subscription. The non-institutional investors part attracted 62.49 times subscription and Retail Individual Investors (RIIs) portion got subscribed 10.79 times.

Waaree Energies IPO received the highest number of applications at the upper price band ever received for 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.

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 allotment for the Waaree Energies IPO will be finalised on October 24. 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.

Investors can check the Waaree Energies IPO allotment status on the official website of the registrar for the IPO, Link Intime India Pvt. Ltd. and on the BSE website.

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

• Choose 'Waaree Energies Limited' from the list of companies in the dropdown. (The name will be displayed once the share allocation is finalised)

• 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 1560 as of 6:00 a.m. on Oct. 24, implying a 103.79% gain over the IPO price, according to Chittorgarh's unit Investorgain. The estimated listing price based on the GMP is Rs 3063 per share.

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

Proceeds from the fresh issue will be used for setting up the 6 GW (gigawatt) of the Ingot Wafer, Solar Cell and Solar PV module manufacturing facility in Odisha. Besides, a portion will be used for general corporate purposes.

Waaree Energies, one of the major players in the solar energy industry in India, is focused on PV module manufacturing with an aggregate installed capacity of 12 GW as of June 30, 2023.

It operates five manufacturing facilities with one factory each, located at Surat, Tumb, Nandigram and Chikhli in Gujarat, and the IndoSolar Facility, in Noida, Uttar Pradesh.

(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.