Waree Energies IPO Subscription Details on Day 2

22 Oct 2024 , 12:40 PM

Waaree Energies Limited Launched its IPO yesterday, October 22, 2024. The IPO closes on October 23, 2024. The IPO has set a price band from ₹1,427 to ₹1,503 per equity share.

Waree Engineering which specializes in solar PV module manufacturing, aims to raise ₹4,321.44 crore. In which ₹3,600 crore coming from the issuance of new shares.

According to the current subscription status, the IPO has received a positive response from investors in the Indian primary market. 

As of 11:48 AM on the second day of bidding, the IPO had been subscribed 5.23 times in total. The retail portion was subscribed 4.66 times, while the non-institutional investor (NII) portion saw a subscription rate of 13.62 times. The Qualified Institutional Buyer (QIB) segment, however, was subscribed 0.09 times.

The allotment of shares is expected to take place on October 24, 2024, with the IPO likely to be listed on October 28, 2024.