Waaree Energies IPO: Waaree Energies IPO has broken the records set by Bajaj Housing Finance IPO, Tata Technologies IPO and LIC IPO and has become the single company to receive the highest number of applications in a public issue in India.
Waaree Energies IPO: The IPO of solar PV module maker Waaree Energies Limited was subscribed more than 76 times on the third and last day of its issuance. Vaari Energies’ IPO has topped the previous records of Bajaj Housing Finance’s IPO and Tata Technologies’ IPO, whose IPO received 73 lakh applications.
With 97.34 lakh applications at the upper end of the price band as of Wednesday, Vaari Energies IPO has broken the records set by Bajaj Housing Finance IPO, Tata Technologies IPO and LIC IPO and has become the single company to receive the highest number of applications in a public issue in India. Has been.
The mainboard IPO opened for subscription on Monday and closed on Wednesday, October 23, 2024. It aims to raise ₹4,321.44 crore through a fresh issue and offer-for-sale (OFS). Waari Energies’ IPO has set aside 50 per cent shares for Qualified Institutional Buyers (QIB), 15 per cent for Non-Institutional Investors (NII) and 35 per cent for retail investors. The reserve portion for employees has a maximum of 650 million equity shares.
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Vaari Energy IPO Subscription Status
Waari Energy IPO was subscribed 76.34 times on the third and last day of the public issue. Vaari Energy IPO received 97.34 lakh applications, the highest for any IPO in India’s primary market history.
According to BSE data, the portion reserved for QIBs was the most booked at 208.63 times. The portion reserved for NII was booked 62.49 times and the portion reserved for retail investors was booked 10.79 times on Wednesday. The employees’ share was booked 5.17 times. The IPO received bids of Rs 2,41,857.01 on Wednesday against the offer of 2,10,79,384 shares.
Vaari Energies IPO Details
Vaari Energies IPO combines a fresh issue of equity shares worth Rs 3,600 crore and OFS of 48 lakh equity shares worth Rs 721.44 crore by a promoter and existing shareholders for a total issue size of Rs 4,321.44 crore at the upper end of the price band. The IPO price band of Vaari Energies has been fixed at Rs 1,427 to Rs 1,503 per equity share.
Under the OFS, promoter Waari Sustainable Finance Pvt Ltd and shareholder Chandurkar Investments Pvt Ltd sold shares. The funds raised from the fresh issue will be used to set up a 6GW (gigawatt) ingot wafer, solar cell and solar PV module manufacturing facility in Odisha. A portion will also be used for general corporate purposes.
when will be the list
The share allotment basis for the Waari Energy IPO will be finalized on Thursday, October 24. The company will begin refunds on Friday, October 25. Shares will be credited to the demat account of the allottees on the same day after refund. The share price of Vaari Energies is likely to be listed on BSE and NSE on Monday, October 28.
waari energies ipo latest gmp
According to stock market experts, the Waari Energy IPO GMP, or gray market premium, rose to Rs 1,560 per share today. Shares of Vaari Energies are trading at Rs 3,063 in the gray market, 103.79 per cent higher than the issue price of Rs 1,503 per share.
