The Waaree Energies IPO has generated significant buzz in the market, with investors eager to find out their linkintime allotment status check and track the listing. Whether you’re new to IPOs or a seasoned investor, this guide will provide everything you need—from checking your IPO allotment status to understanding market trends and predictions for this solar energy giant.
Why Waaree Energies IPO Matters?
Waaree Energies, one of India’s leading solar photovoltaic (PV) module manufacturers, has been a key player in the country’s renewable energy landscape since 1990. With an installed production capacity of 12 GW, the company has seen strong demand for its products amid a global shift toward clean energy. Investors see this IPO as a long-term opportunity, especially given the company’s consistent growth and favorable market conditions for solar energy in India.
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Waaree Energies IPO Details You Should Know
- IPO Date: The IPO was open for bidding from October 21 to October 23, 2024.
- Price Band: The shares were priced between Rs 1,427 and Rs 1,503 per share.
- Lot Size: Investors had to bid for a minimum of 9 shares and in multiples thereafter.
- Funds Raised: Waaree Energies raised Rs 4,321.44 crore through the IPO, including a fresh share issue of Rs 3,600 crore and an offer for sale (OFS) of 48 lakh equity shares.
- Allotment Date: The basis of allotment is expected to be finalized on October 24, 2024.
- Listing Date: Waaree Energies is expected to list on the stock exchanges soon after the allotment, offering a potential for solid returns.
The IPO received a historic response, with an overall subscription rate of 76.34 times, driven primarily by qualified institutional buyers (QIBs) whose portion was subscribed 208.63 times.
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How to Check Waaree Energies IPO Allotment Status?
For investors, the next step is to check if shares have been allotted to them. Fortunately, there are two reliable methods to check your IPO allotment status.
1. Check Allotment Status on BSE
You can check your allotment status on the Bombay Stock Exchange (BSE) website. Here’s a step-by-step guide:
- Go to the BSE IPO allotment page: Visit here.
- Select the issue type: Choose Equity.
- Select the IPO name: From the dropdown, choose Waaree Energies Limited.
- Enter your Application Number or PAN Card: Fill in your details.
- Verify the Captcha: Complete the “I am not a Robot” verification.
- Submit: Click on search to view your allotment status.
2. Waree IPO allotment status linkintime
Link Intime is the official registrar for Waaree Energies’ IPO, responsible for processing of link intime ipo allotment and refunds. Follow these steps to linkintime allotment status check:
- Visit Link Intime’s IPO portal: Check here.
- Select Waaree Energies IPO: The IPO will appear once the allotment is finalized.
- Choose your mode of search: You can check using either your Application Number, Demat Account Number, or PAN ID.
- Choose Application Type: Select either ASBA or Non-ASBA.
- Fill in your details: Enter the required details and complete the captcha.
- Submit: Click submit to see if you’ve been allotted shares.
Grey Market Premium (GMP): A Key Indicator
The Grey Market Premium (GMP) for Waaree Energies has been making headlines. GMP refers to the premium at which IPO shares are traded in the unofficial market before their listing on exchanges. As of the latest updates, Waaree Energies is commanding a GMP of Rs 1,550 to Rs 1,570, which suggests a potential listing gain of over 105% for investors.
A high GMP is often viewed as a sign of strong investor confidence and could translate into a significant listing day pop. However, it’s important to remember that grey market premiums can fluctuate based on market sentiment, so keep an eye on any changes as the listing date approaches.
Expert Opinions: Should You Hold or Sell?
Brokerages have generally been positive about the Waaree Energies IPO. Leading firms like Motilal Oswal and Choice Broking have recommended subscribing to the IPO, citing the company’s strong fundamentals, leadership position in the solar energy space, and favorable market dynamics.
Key Takeaways from Analysts:
- Market Leadership: Waaree Energies is one of the top players in the solar module manufacturing sector, with a robust production capacity and a growing order book.
- Strong Financials: The company has consistently delivered good revenue growth and profit margins, making it a reliable investment for long-term gains.
- Growing Solar Demand: With rising adoption of renewable energy solutions, the solar industry is expected to grow, providing Waaree Energies with a significant market opportunity.
- Valuation: At the higher price band of Rs 1,503, Waaree Energies’ EV/sales ratio of 3.3x is considered favorable when compared to its peers.
However, there are some concerns that investors should keep in mind. Waaree Energies relies heavily on China for raw materials, and any disruption in this supply chain could impact its business. Additionally, changes in government policies related to renewable energy could affect the company’s future prospects.
Important Dates to Remember
Here are the critical dates to keep track of for Waaree Energies’ IPO:
- Allotment Finalization: October 24, 2024
- Refund Initiation: October 25, 2024
- Shares Credited to Demat Accounts: October 26, 2024
- Listing Date: Expected by October 27, 2024 (to be confirmed)
Waaree Energies IPO 2024 Live Updates: Timeline and Key Developments
October 26, 2024: Demand Surges Across Investor Segments
Waaree Energies IPO 2024 live continues to capture attention with outstanding interest from all investor groups. By the end of October 23, Qualified Institutional Buyers (QIBs) had subscribed 215.03 times, with Non-Institutional Investors (NIIs) coming in at 65.25 times and retail investors 11.27 times. The strong subscription rates indicate widespread confidence and expectations of growth.
October 26, 2024 – HNI Investments Breakdown
High-Net-Worth Individuals (HNIs) had different categories for investment, with small NIIs needing a minimum of 15 lots (equivalent to 135 shares) valued at ₹202,905, while larger NIIs needed at least 74 lots (or 666 shares) totaling ₹1,000,998. This diverse structure accommodated a range of investor profiles, enabling flexibility based on investment scale.
October 26, 2024: Investor Bidding Update
The bidding trend for Waaree Energies’ IPO was striking. On October 21, QIBs subscribed at 0.08 times, NIIs at 8.22 times, and retail investors 3.34 times. This initial surge continued through October 22, with QIB interest spiking to 1.82 times, NIIs hitting 24.75 times, and retail investors reaching 6.69 times. Each segment demonstrated strong interest, creating a competitive atmosphere for shares.
October 26, 2024 – Price Band and Investment Options
Waaree Energies IPO’s price band was set between ₹1,427 and ₹1,503 per share, with a minimum lot size of 9 shares for retail investors, meaning a minimum investment of ₹13,527. The tiered structure was designed to provide accessible entry points for all types of investors.
October 26, 2024: Leading IPO Managers
A strong group of financial experts led the Waaree Energies IPO. This team included Axis Capital, IIFL Securities, Jefferies India, Nomura Financial Advisory, SBI Capital Markets, Intensive Fiscal Services, and ITI Capital. Their expertise ensured that the IPO process was smooth, secure, and strategic.
October 26, 2024 – Allotment and Registrar Details
Investors eagerly awaiting their allotment status can visit Link Intime India Private Ltd, the IPO registrar’s website, where allotment details will be made available. This process provides transparent updates to investors looking to confirm their shares.
October 23, 2024 – Final Subscription Data
With an overall subscription close to 80 times, the Waaree Energies IPO was in high demand. Retail buyers subscribed 11.27 times, NIIs reached 65.25 times, and QIBs led with a subscription rate of 215.03 times, reflecting widespread optimism and high expectations for Waaree’s market debut.
October 21 to 23, 2024 – Waaree Energies IPO Launch and Close
Waaree Energies IPO launched on October 21 and closed on October 23 with an ambitious target to raise ₹4,321.44 crore. With immense demand across investor categories, it quickly became one of the most talked-about IPOs in recent history.
October 28, 2024 – Mark Your Calendar for the Listing Date
Waaree Energies’ IPO will officially list on the BSE and NSE on October 28, 2024. Investors and analysts are eagerly waiting, with many anticipating impressive gains on listing day, given the strong demand in the grey market premium.
Stay tuned as Waaree Energies takes its first steps in the stock market. Keep an eye on updates to ensure you don’t miss critical listing day details, and consider following future updates for insights into other promising IPOs.
FAQs: What You Should Know About Waaree Energies IPO
1. How do I check my Waaree Energies IPO allotment status?
You can check the allotment status either through the BSE website or the Link Intime portal by entering your application number, PAN, or Demat account details.
2. What is the grey market premium for Waaree Energies IPO?
As of the latest updates, the GMP is trading between Rs 1,550 and Rs 1,570, indicating strong investor demand and potential for substantial listing gains.
3. What if I don’t get an allotment?
If you’re not allotted shares, your IPO mandate will be revoked, and the funds will be unblocked in your bank account.
Is Waaree Energies IPO Worth the Investment?
With its strong market position, impressive subscription figures, and overwhelming response from qualified institutional buyers, the Waaree Energies IPO has proven to be one of the most anticipated IPOs of the year. The grey market premium points to a promising listing, but investors should consider both the opportunities and risks involved.
If you’ve applied for shares, make sure to check your allotment status through the methods mentioned above. And for those waiting for the listing date, keep an eye on market trends and the GMP, as they can offer valuable insights into the stock’s post-listing performance.
Check your Waaree Energies IPO allotment status now! Don’t miss out on the latest updates, and ensure you’re ready for the next steps in this exciting IPO journey.
Stay informed, invest smartly, and keep up with the latest trends in the stock market!
By following these steps, you’ll stay up-to-date with your Waaree Energies IPO allotment status and be well-prepared for the listing date.
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