Waaree Energies shares made a great launch on the stock exchanges today, following expectations. On the BSE, the stock was listed at Rs 2550, about 70% above its IPO issue price of Rs 1,503. However, on the NSE, the stock is listed at Rs 2,500 a share, representing a premium of 66.33 percent.
After a record-breaking response from investors, a leading manufacturer of solar PV modules debut on the market today. This IPO listing is anticipated to generate a lot of interest from the BSE and NSE due to its strong position in the renewable energy market and sound financials.
The IPO, which was offered for subscription from October 21 to October 23, raised Rs 4,321.44 crore. It includes a new issuance of 2.4 crore shares worth Rs 3,600 crore and an offer for sale (OFS) of 48 lakh shares for Rs 721.44 crore. The issuance, priced between Rs 1,427 and Rs 1,503 per share, saw remarkable demand, resulting in a 76.34-times oversubscription rate.
Investor interest was sparked by Waaree Energies' strong position in the solar market and expanding demand for renewable energy solutions.
Anil Singhvi, a market veteran, expressed excitement for Waaree Energies' upcoming market launch. "The strong investor interest we are seeing is consistent with Waaree's growth trajectory, giving it a significant launch on the bourses. Investors should consider holding the stock with a stop-loss strategy of approximately Rs 2,600 to enable for profit booking when valuations change post-listing," Singhvi advised.
Investor outlook and post-listing strategies
With a robust investor base established throughout the IPO phase, Waaree Energies' stock is projected to see significant listing gains. Shivani Nyati, Head of Wealth at Swastika Investmart, stated that "Waaree Energies' overwhelming response and significant funds raised highlight its growth potential." Long-term investors may find significant value here, given the company's position in the renewable industry and India's growing need for solar solutions." Nyati also urged short-term investors to consider taking partial profits if the company has a significant increase on listing day.
Key data points for investors include subscription numbers
Waaree Energies' IPO received bids totaling more than Rs 2.41 lakh crore, indicating strong interest from all investment groups.
- Subscriptions by category: The IPO received 10.79 times in the Retail segment, 62.49 times in Non-Institutional Investors (NII), and 208.63 times in the Qualified Institutional Buyers (QIB) category.
- The issuance was managed by Axis Capital, IIFL Securities, Jefferies India, Nomura Financial Advisory, SBI Capital Markets, Intensive Fiscal Services, and ITI Capital Limited.
Waaree Energies' listing today is expected to reflect its significant demand and growth potential, making it an important event for both market watchers and renewable energy enthusiasts.
Investors are advised to be wary about market volatility, but this listing represents a strong entrée into India's green energy transition.
