Waaree Energies IPO: If you are waiting for a good IPO, then arrange money immediately. We are saying this because the IPO of a solar panel manufacturing company is opening for investment next week. Even before its opening, there is huge demand for this IPO in the unlisted market. Yes… this share is already trading at 104% premium in the gray market. We are talking about Vaari Energies IPO. The IPO of solar panel manufacturing company Vaari Energies will open for investment on October 21 and will close on October 23. Large (anchor) investors will be able to bid on October 18. This IPO is worth Rs 4,321 crore and the price band for it has been fixed at Rs 1,427-1,503 per share.
Huge demand in gray market
Shares of solar panel manufacturer Vaari Energies Limited are in high demand in the gray market. According to Investorgain.com, Vari Energies Limited IPO has reached a premium of Rs 1565 in the gray market today. This means that the company’s shares can be listed at Rs 3068. That means a profit of 104% can be made on the very first day. Let us tell you that this is the IPO of Mainboard and it is proposed to be listed on BSE-NSE. The company’s shares may be listed on October 28.
Also read: This share of Railways became a rocket, foreign investor bought ₹ 7.63 lakh shares, price increased by 8%
what are the details
The IPO is a combination of fresh shares worth Rs 3,600 crore and an offer for sale (OFS) of 48 lakh shares worth Rs 721.44 crore to the promoter and existing shareholders. Thus, its total issue size comes to Rs 4,321.44 crore. The funds raised from the IPO will be used to set up a 6 GW ingot wafer, solar cell and solar PV module manufacturing facility in Odisha. Additionally a portion will be kept for general corporate purposes.
