desk
Share
Amidst tremendous action in the primary market, another company has entered the stock market. Shares of Waaree Energies have been listed today on both the exchanges - National Stock Exchange (NSE) and Bombay Stock Exchange (BSE). The special thing is that this stock got listed at a huge premium compared to the issue price. In this way, investors who have got share allotment in this IPO have got huge profits on the very first day.
The issue price of Waaree Energies was fixed at ₹ 1,503 per share. But, in comparison, this stock was listed on NSE at a price of ₹ 2,500 per share. On the other hand, this stock was listed on BSE at a price of ₹ 2,550 per share. In this way, investors got the benefit of premium ranging from 66% to 70% on the very first day.
Even before the listing, this stock was trading at a tremendous premium in the gray market. There were indications from the gray market that this stock would be listed at an 85% premium. The gray market is a kind of unofficial market, which most investors look at for listing indications. What should investors do? Shivani Niyati of Swastika Investment said that the fundamentals of the company are strong. The company has leadership in the solar energy sector. The IPO also received a tremendous response. However, he has advised to be cautious about the stock in the short term after listing. Let us tell you that this IPO of ₹ 4,321 crore got a tremendous response. Investors had bid ₹ 2.41 lakh crore. It was subscribed 76.34 times. QIBs subscribed 208.63 times, NII 62.48 times. The portion reserved for retail investors was also subscribed 10.79 times. Waaree Energies Business Waaree Energies was founded in 1990 and its headquarters is located in Mumbai. The company has the largest solar module manufacturing capacity in India, which is up to 12 GW. As of June 2024, the company had pending orders for 16.66 GW of solar PV modules, which includes both domestic and foreign orders. The company says most of these orders will be completed by fiscal year 2027, including 3.75 GW for US-based company Waaree Solar Americas Inc.
--Advertisement--
_1312966924_124x80.png)
