Waaree Energies: IPO receives maximum applications ever in Indian history, GMP soars beyond 100%
Oct 24, 2024, 18:48 IST
The share allotment for Waaree Energies IPO, which opened for subscription between October 21 and 23, is set to be finalized today. By tomorrow, i.e., October 25th, all bidders will receive information on whether or not they have been allotted shares.
If you have applied, and in case your allotment is successful, funds will be debited from your accounts. On the other hand, if the allocation remains unsuccessful, your IPO mandates and blocked funds will be revoked. Waaree is set to list on both NSE and BSE on Monday, October 28th, 2024.
Waaree's IPO worth Rs 4,321.44 crore received a thumping response from investors. Overall, the IPO was subscribed to around 79.44 times, with bids worth Rs 2,41,857.01 crore received against the issue size of Rs 4,321.44 crore.
Not just in the retail category, which oversubscribed to the issue by 11.27x, Waaree also attracted massive interest from QIBs (qualified institutional buyers), who subscribed a massive 215.03x to the offer, and Waaree's employees, who bid 5.45x times the issue potion kept aside for them.
Retail investors bid for 11,16,95,301 shares, as against the 99,11,869 shares demarcated for their category.
Before this, Bajaj Housing Finance's IPO, which concluded in September 2024, held this record, receiving 89.07 lakh applications. One of India's biggest ever IPOs, the LICs offer worth Rs 21,008.48 crores had received around 52.98 lakh valid applications when it debuted on the bourses in May 2022.
The company's GMP (grey market premium), which stood at Rs 1,550 at the end of today's trade, has been soaring exponentially in unofficial markets. With this, Waaree's estimated listing price stands at Rs 3,053, translating into a whopping 101.13% listing gain per share for investors.
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If you have applied, and in case your allotment is successful, funds will be debited from your accounts. On the other hand, if the allocation remains unsuccessful, your IPO mandates and blocked funds will be revoked. Waaree is set to list on both NSE and BSE on Monday, October 28th, 2024.
Waaree's IPO worth Rs 4,321.44 crore received a thumping response from investors. Overall, the IPO was subscribed to around 79.44 times, with bids worth Rs 2,41,857.01 crore received against the issue size of Rs 4,321.44 crore.
Not just in the retail category, which oversubscribed to the issue by 11.27x, Waaree also attracted massive interest from QIBs (qualified institutional buyers), who subscribed a massive 215.03x to the offer, and Waaree's employees, who bid 5.45x times the issue potion kept aside for them.
Retail investors bid for 11,16,95,301 shares, as against the 99,11,869 shares demarcated for their category.
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Highest ever number of applications
As against the total allocated 2,02,56,207 shares, the markets bid for a staggering 1,60,91,61,741 shares. The IPO also set a record in terms of receiving the highest-ever applications (about 97.34 lakh) received by any IPO in India's history, particularly at the upper end of the Waaree's price band, which was between Rs 1,427 and Rs 1,503.Before this, Bajaj Housing Finance's IPO, which concluded in September 2024, held this record, receiving 89.07 lakh applications. One of India's biggest ever IPOs, the LICs offer worth Rs 21,008.48 crores had received around 52.98 lakh valid applications when it debuted on the bourses in May 2022.
The company's GMP (grey market premium), which stood at Rs 1,550 at the end of today's trade, has been soaring exponentially in unofficial markets. With this, Waaree's estimated listing price stands at Rs 3,053, translating into a whopping 101.13% listing gain per share for investors.