This year, there has been a lot of excitement in the Indian IPO market and big companies like TATA and Hyundai have launched their IPOs. But here we are talking about the IPO of energy company Waaree Energies that happened this week, which has left even companies like Tata and Bajaj behind. In fact, this IPO has received more applications than any other issue so far and has created a record.
Waree IPO Allotment Today
Solar module maker Vali Energies’ initial public offering (IPO) opened for subscription on October 21 and closed on October 23. The size of this issue was Rs 4,321.44 crore and if we talk about the price band, it was fixed between Rs 1,427 and Rs 1,503. Under this IPO, 2.4 million shares were issued through fresh issue, worth Rs 3,600 crore. A total of 48 lakh shares worth Rs 721.44 crore were issued through OFS. The allotment process of this IPO will take place on Thursday.
How TATA-Bajaj’s record was broken
Now let’s talk about how this IPO of an energy company came ahead of the previous issues of Tata and Bajaj. Let us tell you that Waree Energies IPO has received tremendous response from investors and has received a total subscription of 79.44 times. This IPO was subscribed 11.27 times in the retail category. Bookings were made 215.03 times in the QIB category and 65.25 times in the NII category.
This issue has received offers for more than 160.91 million shares. Not only this, it has received over 97 lakh record applications till the last day, which itself is the record for highest number of applications for any IPO. Earlier in this matter, Bajaj Housing Finance’s IPO was on top. Notably, Waree IPO has received a total of 97.34 lakh applications. While earlier, Bajaj Housing Finance IPO had received 90 lakh applications. While Tata Tech’s IPO was so far ranked number 2 in this matter and its IPO had received 73 lakh applications.
The IPO causes a sensation in the gray market
There are signs of a big listing of Vaari Energies IPO in the stock market. This can also be measured by looking at their performance in the gray market. Waree Energies IPO gray market premium was Rs 1,560 around 10 am on Thursday. According to this, the market price of this issue may be Rs 3,063. That means investors’ money can double with the listing.
When will the listing take place?
Vaari Energies’ IPO allotment process, which closed on October 23, begins from today. For those who will not receive shares, your money can also be returned to your account today. Vaari Energies shares will be listed on BSE and NSE, which will be able to enter the market on October 28.
(Note: Before making any investment in the stock market, definitely consult your market experts.)
