Waaree Energies Subscription Status / GMP :The IPO of Waaree Energies, the country’s largest company making solar panels or solar modules, has been subscribed about 80 times till 4:30 pm on October 23, its third and last day. At the same time, its gray market premium is indicating that it will be listed at double the price of its IPO price. In such a situation, the investors who have invested money in it will keep an eye on the share allotment on October 24. The listing of the stock will take place on October 28. Most of the brokerage houses and experts are also positive about the company.
Zomato’s share will cross Rs 325 or fall to Rs 100, what is the opinion of the brokerage house?
Latest Subscription Status
The IPO of Vaari Energies has been subscribed 80 times or 8000 percent till 4:30 pm on the third day. The size of the IPO is Rs 4321 crore, while till now it has received bids worth Rs 2,41,809.86 crore. The 50 percent portion reserved for qualified institutional buyers has been filled 215 times so far. Whereas the 15 percent portion reserved for non-institutional investors has been filled 65.24 times so far. At the same time, the reserve portion of 35 percent for retail investors has been filled 11.24 times and the reserve portion for employees has been filled 5.43 times.
Hyundai Motor: Brokerage gives reduce rating on Hyundai Motor with low target price, why Maruti stock can be a better option
Waaree Energies GMP
There is a craze in the gray market regarding the IPO of Vari Energies. The unlisted stock of the company seems to be trading at 100 percent premium in the gray market. This premium in rupees is Rs 1503. In this context, the listing of shares can be between 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.
Brokerage rating on IPO
BP Wealth: Subscribe
Choice Broking: Subscribe
KR Choksey Finserv: Subscribe
Swastika Investmart: Subscribe
Anand Rathi Research: Subscribe
ICICIDirect Research: Subscribe
High Return: Multibagger stock which has given 258% return in 1 year will continue its momentum, has the power to give 31% return in future also, Jhunjhunwala is preferred.
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.
Muhurat Trading 2024: On the evening of Diwali, bet on these stocks of 4 brokerage’s choice, portfolio will be auspicious, there will be rain of wealth in the house.
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.)