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24 October 2024
Waaree Energies, a prominent name in India's solar photovoltaic (PV) module manufacturing sector, is set to announce the allotment of its highly anticipated Initial Public Offering (IPO) shares today. The IPO witnessed an overwhelming response, with 97.34 lakh applicants bidding at the upper end of the price band. The IPO worth Rs 4,321 crore received bids totaling a massive Rs 2.41 lakh crore, showcasing the immense interest in Waaree Energies.
If you’re one of the investors, here's everything you need to know about the IPO allotment process and how to check the status online.
The IPO, which was open for three days, attracted a huge number of bids across all investor categories. Here's a breakdown of the subscription data:
With such a high subscription rate, the demand for Waaree Energies shares far exceeded the supply, making this one of the most successful IPOs in recent times.
Investors can check their IPO allotment status on either the official registrar’s website or the Bombay Stock Exchange (BSE) website. Follow these simple steps to check if you’ve been allotted shares.
Founded in 1990, Waaree Energies is the largest manufacturer of solar photovoltaic (PV) modules in India. With five state-of-the-art manufacturing facilities spread across Gujarat and Uttar Pradesh, the company has become a leader in the renewable energy space. Currently, it boasts a production capacity of over 12 GW, with plans to increase this to more than 20 GW by FY27.
From the IPO proceeds, Waaree Energies plans to allocate Rs 2,750 crore for expanding its production capacity. The company is also in the process of setting up a 6 GW ingot wafer, solar cell, and solar module facility, which will help it further strengthen its position in the market.
Investors can expect the shares to be listed on the stock exchanges on October 28, 2024. With the growing demand for renewable energy and solar power solutions, the company is poised for significant growth, making this IPO a major event for market watchers.
Waaree Energies’ IPO has undoubtedly captured the attention of the investor community, with high subscription rates across all categories. If you’re among the applicants, make sure to check your allotment status today and get ready for the listing on October 28.
With the company’s focus on expanding its solar module production and tapping into the renewable energy boom, Waaree Energies is set to shine bright on the stock market.
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