Waaree IPO: Record-Breaking 79.44x Demand, Stellar Listing Expected

Waaree IPO breaks record, lists Oct 28

Waaree IPO: Record-Breaking 79.44x Demand The IPO of solar PV module manufacturer Waaree Energies Ltd garnered massive demand, breaking records with the highest-ever number of applications received for an IPO. The IPO, open from October 21 to 23, is expected to finalize its allotment today, October 25. Shares will be credited to successful applicants’ demat accounts, and refunds for unsuccessful bids will be processed on the same day.

Investors can check the status of their allotment online via the BSE or NSE websites or through the IPO registrar, Link Intime India Private Ltd. Here’s how:

1. BSE Website:
– Go to the BSE website and select ‘Equity’ under Issue Type.
– Choose ‘Waaree Energies Limited’ in the Issue Name.
– Enter your Application No. or PAN, complete the captcha, and click ‘Search.’

2. Registrar’s Website:
– Visit Intime’s portal
– Select ‘Waaree Energies Limited’ from the dropdown.
– Choose among PAN, App. No., DP ID, or Account No., enter the details, and click ‘Search.’

Waaree IPO: Record-Breaking 79.44x Demand As for market response, Waaree Energies shares show high demand in the grey market, with a premium (GMP) of ₹1,558 per share, suggesting a listing price around ₹3,061, a 104% premium over the ₹1,503 issue price. The IPO, priced between ₹1,427 and ₹1,503 per share, raised approximately ₹4,321.44 crore, combining a fresh issue of ₹3,600 crore and an offer-for-sale (OFS) of ₹721.44 crore.

The Waaree Energies IPO saw a record-breaking 76.34x oversubscription, with 160.91 crore equity shares bid against 2.10 crore shares available. Retail investors oversubscribed by 10.79x, NIIs by 62.49x, and QIBs by 208.63x. Major managers include Axis Capital, IIFL Securities, Jefferies India, Nomura, SBI Capital Markets, Intensive Fiscal Services, and ITI Capital, with Link Intime as the registrar. Shares are expected to list on the BSE and NSE on October 28.

Waaree Energies Ltd has finalized its IPO allotment, allowing investors to check their allotment status online via the portals of the NSE, BSE, and the IPO registrar, Link Intime India Pvt Ltd. The IPO saw an overwhelming response, being oversubscribed 76.34 times in total. Qualified institutional buyers (QIBs) subscribed over 208 times, retail investors subscribed 10.79 times, and non-institutional investors 62.48 times.

Investors typically receive an SMS notification of the allotment, but the status can also be verified through these online portals.

1. Link Intime Portal:
– Visit
– Select ‘Waaree Energies’ in the ‘Select Company’ dropdown.
– Enter your PAN, Demat account number (DP ID/Client ID), IPO application number, or account and IFSC number.
– Click ‘Submit’ to view the allotment status.

2. NSE Website:
– Go to 
– Log in with user credentials or register if you’re a new user.
– Choose Waaree Energies from the company list, enter PAN and IPO application number, and click ‘Submit.’

Waaree IPO: Record-Breaking 79.44x Demand  The high demand caused a delay in finalizing the allotment, with Waaree Energies receiving a record 97.34 lakh applications, surpassing Bajaj Housing Finance and Tata Technologies’ records of 90 lakh and 73 lakh applications, respectively. Shares will be credited to allottees’ demat accounts, and refunds for unsuccessful applicants will be processed today, Friday. Waaree Energies shares are anticipated to be listed on NSE and BSE on Monday, October 28.

Waaree Energies’ IPO shares have garnered significant demand, with a grey market premium (GMP) of 104% in unofficial markets, hinting at substantial listing gains. The IPO, aiming to raise ₹4,321.44 crore, was available from October 21 to October 23 and saw a robust subscription rate of 79.44 times.

Retail investors subscribed to the IPO 11.27 times, while non-institutional investors (NIIs) subscribed 65.25 times. The IPO’s final share allotment was confirmed on October 24, and investors can check the allotment status on the registrar’s website.

The listing on NSE and BSE is set for October 28. Multiple prominent firms, including Axis Capital, IIFL Securities, and Jefferies India, were book-running lead managers.

Anand Rathi Research and InCred Equities endorsed the IPO, noting Waaree’s strong financials and robust growth in the Indian and export markets. The company, India’s largest solar PV module manufacturer with a capacity of 12 GW, has been expanding its infrastructure with new facilities and advanced solar technology.