Waaree Energies' shares make remarkable market debut; jump nearly 70%
The Hindu
Waaree Energies IPO debuts with a 70% premium, reflecting strong demand and market valuation of ₹67,866.35 crore.
Shares of solar panel maker Waaree Energies Ltd on Monday (October 28, 2024) listed with a premium of nearly 70% against the issue price of ₹1,503.
The stock made its market debut at ₹2,550, reflecting a jump of 69.66% from the issue price on the BSE. It further surged 72.98% to ₹2,600. At 11.00 a.m., the share was trading at ₹2,465
At the NSE, the stock listed at ₹2,500, surging 66.33%.
The company's market valuation stood at ₹67,866.35 crore.
The initial public offer of Waaree Energies Ltd garnered 76.34 times subscription on the last day of share sale on Wednesday, helped by strong participation from institutional buyers.
The ₹4,321.44-crore initial share sale had a price band of ₹1,427 to ₹1,503 per share.
The IPO was a combination of a fresh issue of equity shares aggregating to ₹3,600 crore and an Offer-for-Sale (OFS) of 48 lakh equity shares worth ₹721.44 crore, at the upper end of the price band, by a promoter and existing shareholders.
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