The upcoming debut of Waaree Energies Limited on the stock market, scheduled for Monday, October 28, 2024, is generating considerable excitement among investors. With strong subscription figures and a promising Grey Market Premium (GMP), expectations are high for a successful listing that could yield positive returns.
The Waaree Energies Initial Public Offering (IPO) saw overwhelming interest, being subscribed 79.44 times by the close of the bidding process on October 23, 2024. Notably, retail investors showed substantial participation with a subscription rate of 11.27 times. The Qualified Institutional Buyers (QIB) category exhibited even more enthusiasm, achieving a remarkable subscription rate of 215.03 times, while the Non-Institutional Investors (NII) segment subscribed at 65.25 times. These figures indicate robust demand across various investor categories, further bolstering confidence in the IPO.
Market experts are optimistic about the anticipated listing price, driven in part by the impressive Grey Market Premium. As of October 25, 2024, the GMP stood at Rs 1,370, suggesting a listing price around Rs 2,873. This represents a potential gain of approximately 91.15% over the issue price of Rs 1,503. Shivani Nyati, Head of Wealth at Swastika Investmart Ltd, reinforced this positive sentiment, stating, “We can expect a strong listing for Waaree Energies, supported by its impressive grey market premium of 103.79%. Based on this, the stock is likely to list around Rs 3,063, reflecting a gain of Rs 1,560 over the issue price.”
For investors fortunate enough to secure an allotment of shares in the IPO, Nyati recommends a balanced approach. She encourages long-term investors to consider holding onto their shares, given Waaree Energies' prominent position in the renewable energy sector and its significant growth potential in solar energy. The company’s established track record and market leadership enhance its attractiveness as a long-term investment.
Conversely, Nyati advises short-term investors to consider booking partial profits on the listing day, particularly if the stock sees a substantial increase in its price. She cautions that market conditions following the listing could impact short-term price movements, making it crucial for investors to stay vigilant.
The latest GMP update for Waaree Energies’ IPO indicates a strong positive sentiment in the market. The GMP of Rs 1,370, coupled with the issue price of Rs 1,503, suggests that the anticipated listing price of Rs 2,873 has created a buzz among investors, reflecting robust confidence in the stock’s future performance.
Waaree Energies, founded in 1990 and headquartered in Mumbai, is recognized as one of India's leading manufacturers of solar photovoltaic (PV) modules. With an impressive installed capacity of 12 GW, the company specializes in producing multicrystalline PV modules, which play a crucial role in solar energy systems. This focus on solar technology positions Waaree Energies as a key player in India's rapidly growing renewable energy market, making it a compelling option for investors looking to tap into sustainable energy trends.
Overall, the anticipation surrounding Waaree Energies' IPO and its upcoming market debut reflects a broader optimism for the renewable energy sector and its potential for growth in the coming years.
