Waaree Energies IPO Subscription Status – Day 2
As of Day 1, the IPO has already seen a strong response, particularly from Non-Institutional Investors (NIIs), who have subscribed a staggering 13.34 times their allotted quota. Retail investors, too, have shown confidence, subscribing 4.57 times their allocation. The overall subscription across all categories stands at 5.22 times, reflecting immense interest from both large and small investors.
Today marks a significant moment in India’s renewable energy landscape as the Waaree Energies IPO opens for subscription. Investors across the country are keenly eyeing this opportunity, driven by the promise of a brighter, greener future through solar energy. The IPO has a price band between ₹1,427 and ₹1,503 per share, aiming to raise ₹4,321.44 crore. This comprises a fresh issue of ₹3,600 crore and an Offer for Sale (OFS) worth ₹721.44 crore.
Waaree Energies IPO Day 2 Subscription Status
| Investor Category | Subscription (times) | Details |
|---|---|---|
| Non-Institutional Investors (NII) | 13.34x | Strong demand from NIIs, oversubscribed by over 13 times. |
| Retail Investors | 4.57x | Retail participation reached nearly 5 times their quota. |
| Qualified Institutional Buyers (QIBs) | 0.09x | QIBs placed fewer bids, subscribing only 9% of their reserved quota. |
| Overall Subscription | 5.22x | Overall demand resulted in an oversubscription of 5.22 times. |
Waaree Energies IPO GMP Today
Waaree Energies IPO GMP Trend (Last 4 Days)
| Date | GMP (₹) |
|---|---|
| October 21, 2024 | ₹1,515 |
| October 20, 2024 | ₹1,490 |
| October 19, 2024 | ₹1,475 |
| October 18, 2024 | ₹1,455 |
Waaree’s Vision: Powering India’s Renewable Energy Goals
Founded in 2007, Waaree Energies has grown to become the largest solar PV module manufacturer in India, with a massive 12 GW of installed capacity as of June 2023. This IPO is set to propel the company further, as it plans to utilize the funds to establish a cutting-edge 6 GW solar manufacturing facility in Odisha. This expansion will enable the company to meet growing demand both in India and abroad.
Why is Solar Energy Important?
India is one of the fastest-growing markets for renewable energy, with solar power taking center stage. The government has ambitious goals to reduce carbon emissions and increase reliance on clean energy. Solar, with its vast potential, is leading this charge, and Waaree Energies is at the forefront of this transformation.
Their journey from a modest start to becoming the leader in the industry is inspiring. Waaree’s solar PV modules are not only used in India but are exported worldwide, and the company has consistently maintained a Tier-1 Bloomberg rating for its products.
A Strong Financial Foundation
Waaree’s financials tell a compelling story of growth. The company reported a profit of ₹1,274.37 crore in FY 2024, a huge leap from the ₹500.27 crore in FY 2023. This strong financial performance is likely a big reason why institutional investors, who have been allocated 50% of the IPO, are showing interest
The Heart of the IPO: Investors and the Future
For retail investors, this IPO represents a chance to invest in a company that is directly contributing to cleaner, greener energy for future generations. Whether you’re an environmental enthusiast or just looking for a strong financial opportunity, Waaree Energies’ commitment to quality and growth is compelling.
Investors can bid in lots of 9 shares, with a minimum investment of ₹13,527 at the lower price band. This relatively accessible entry point has likely fueled retail interest. The allotment is slated for October 24, with shares expected to list on October 28.
The Bigger Picture
This IPO is not just about numbers. it’s about creating a legacy of sustainable growth. Waaree Energies isn’t just looking to expand its manufacturing capacities, but to change the way we power our lives. As solar energy becomes more affordable and efficient, companies like Waaree are helping India—and the world—move closer to a future powered by clean, renewable energy.
For those looking to invest in a sustainable future, the Waaree Energies IPO offers not just financial returns, but the chance to be part of something much larger: the renewable energy revolution.
With a robust track record, a clear growth trajectory, and a vital role in India’s renewable energy sector, Waaree Energies is well-positioned to continue driving change in the global energy landscape.