Waaree Energies Subscription Status / GMP :The IPO of Waaree Energies, the country’s largest company manufacturing solar panels or solar modules, will be open from October 21 to October 23, 2024. The size of the IPO is Rs 4321 crore. Whereas the company has fixed the price band for this at Rs 1427-1503 per share. On the first day of IPO, its premium in the gray market is seen between 96 percent to 100 percent. By 12 noon on the first day, this IPO has been subscribed 120 percent. Shares will be allotted on 24th October, while the listing will take place on 28th October. Most of the brokerage houses are also positive about the IPO and are advising to subscribe.
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The IPO of Vaari Energies has been subscribed 120 percent till 12 noon on the first day. Bidding is not happening right now for the 50 percent share reserved for qualified institutional buyers. Whereas the 15 percent portion reserved for non-institutional investors has been filled 2.42 times so far. At the same time, the reserve portion of 35 percent for retail investors has been filled 1.40 times and the reserve portion for employees has been filled 0.66 times.
Waaree Energies GMP
There is a craze in the gray market regarding the IPO of Vari Energies. The unlisted stock of the company is seen trading at 96 to 100 percent premium in the gray market. This premium in rupees is Rs 1450 to Rs 1503. In this context, the listing of shares can be between Rs 2953 to Rs 3006 as compared to the IPO price of Rs 1503. If this continues then this IPO will also become an IPO that doubles the money on listing.
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Waaree Energies: Company Outlook
Waaree Energies’ portfolio of solar energy products includes PV modules: Multi-crystalline modules, Monocrystalline modules and Topcon modules. It also includes flexible modules, including bifacial modules (mono PERC) (framed and unframed) and building integrated photovoltaic (BIPV) modules. The company has strengthened its market position through extensive capacity expansion, backward integration and strategic international growth. At the same time, it has prepared itself to take advantage of new opportunities and meet the increasing demand at domestic and global level.
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The share of commercial and industrial sector in rooftop solar energy installations is 70 to 80 percent. On the financial front, the company’s revenue from operations grew at a CAGR of 99.8 percent from FY22 to FY24. Whereas the company’s profit increased to Rs 12743.77 million in FY24 compared to Rs 796.50 million in FY22. Whereas return on equity (ROE) increased from 17.69 percent to 30.26 percent. The company’s global expansion, competitive pricing and strong order book ensure revenue stability, business continuity and sustainable growth while optimizing sourcing and supply chain costs across the globe. (Source: BP Wealth)
(Disclaimer: The advice to invest in stocks has been given by the brokerage house. These are not the personal views of Financial Express. There are risks in the market, so take expert opinion before investing.)