Waaree Energies IPO: Check GMP, allotment details, listing date and expected gains

Waaree Energies’ IPO has drawn strong interest from investors, with its listing set for October 28. The IPO allotment was finalised yesterday, and the issue is already showing signs of substantial listing gains based on grey market indicators.
The latest GMP for Waaree Energies suggests an approximate premium of Rs 1,450 per share, reflecting robust demand despite a slight dip from Rs 1,590 the previous day. Even with this adjustment, the IPO is anticipated to deliver impressive returns. Based on current GMP levels, Waaree Energies could list at around Rs 3,053, offering a listing gain of nearly 97% above its issue price of Rs 1,503.
Krishna Patwari, Founder and Managing Director of Wealth Wisdom India Pvt. Ltd., commented, “The current GMP indicates a likely listing above Rs 3,000 per share,” showcasing the strong market sentiment for this public issue.
The IPO, which closed on October 23, saw a record-breaking 97.34 lakh applications and was oversubscribed 76.34 times. Qualified Institutional Buyers (QIBs) led the interest, subscribing 208.63 times, followed by Non-Institutional Investors (NIIs) at 62.49 times.
Retail investors and employees also participated actively, with subscriptions at 10.79 and 5.17 times, respectively. The IPO’s total size stands at Rs 4,321.44 crore, including a fresh issue of Rs 3,600 crore and an Offer for Sale (OFS) of up to 48 lakh shares.
With allotments finalised on October 24, Waaree Energies’ IPO is expected to have a bumper listing on October 28. Investors eagerly await the listing day, with continued high interest anticipated, supported by robust fundamentals and market demand for renewable energy assets.
Analysts have positive expectations for the company’s growth, citing its strong financials and favourable market demand for solar energy. However, some caution is advised due to the company’s reliance on Chinese raw materials and limited supplier options.
(Disclaimer: Views and recommendations expressed by experts are independent opinions and do not reflect those of the India Today Group. It’s advisable to consult a financial advisor for investment decisions.)