Waaree Energies IPO Subscription Details on Day 3

23 Oct 2024 , 10:28 AM

Waaree Energies Ltd launched its IPO on October 21, and the subscription ends today, October 23. The IPO has received strong demand, with a 9x subscription in the first two days.

Subscription details on Day 3:

• Retail category: 6.81 times subscribed.
• Non-Institutional Investors (NII): 26.84 times subscribed.
• Qualified Institutional Buyers (QIB): 1.74 times subscribed.

The IPO price band is set between ₹1,427 to ₹1,503 per share, with the upper limit aiming to raise ₹4,321.44 Crore.

Waaree Energies is the largest solar PV module manufacturer in India, with a capacity of 12 GW, nearly 1.9 times larger than its closest competitor. The company operates five manufacturing facilities and offers multicrystalline, monocrystalline, and TopCon modules as part of its product portfolio.

The firm also provides EPC solutions as a contractor for various solar projects. The IPO has received an overwhelming response with a subscription of 8.78 times by Day 2. The IPO is currently subscribed 9.55 times overall.

 

The Waaree Energies IPO listing date is expected to be October 28, and today marks the final day for bidding.