New Delhi: Waree Energies Limited's IPO is getting tremendous response from investors. It has been subscribed 9 times overall so far (waaree ipo subscription status). This IPO has also created a buzz in the grey market (gmp of waaree energies). If the listing happens as per GMP, then investors' money can double on the first day.

What is the price band of Waaree Energy?

Waaree Energies IPO was open for subscription on 21 October and today is the last day to invest in it. The price band has been fixed from Rs 1427 to Rs 1503 per share. Share allotment will be done on 24 October. At the same time, the process of refund and crediting shares in the demat account will start from 25 October. Waaree Energies can enter NSE and BSE on 28 October (Waree Energies IPO listing date).

Waaree Energies IPO GMP

There is tremendous demand for Wari Energy's IPO in the grey market. Its latest GMP is 91 percent. If the listing happens as per the grey market, then investors can make a profit of about Rs 1400 per share. However, it is important to keep in mind that the grey market is an unauthorized market, where shares are bought and sold before listing. Here the shares keep fluctuating continuously.

Waaree is the parent company of Waaree Renewable

Waaree Energies is actually the parent company of Waaree Renewable Technologies. Waaree Renewable has given a return of more than 67 thousand percent in five years. Its shares were around Rs 2 till November 2020, but reached Rs 3,000 in the next four years. The all-time high of Waaree Renewable Technology is Rs 3,037.75, which it made in May 2024. However, there has been a correction of 50 percent from there. Currently, Waaree Renewable is trading around Rs 1,500.

What does Wari Energies do?

Waaree Energies is famous for manufacturing solar panels. It is counted among the top companies in the solar industry. As per data till June 2023, Waaree Energies has a total installed capacity of 12 GW. Its focus is on manufacturing PV modules. Waaree Energies will use the IPO funds to set up a 6GW (gigawatt) ingot wafer, solar cell and solar PV module manufacturing plant in Odisha.