Solar Panel Manufacturing Company Afternoon Energies There is not much time left for the IPO to open. In such a situation, tremendous action is being seen in the shares of this company in the gray market.
Let us tell you that investors will be able to invest money in the IPO of Waaree Energies between October 21 and October 23. The company has fixed the price band between ₹1,427 to ₹1,503. Investors will be able to bid for 9 shares in one lot. Also, bidding can be done for multiple shares. In terms of upper band, the company intends to raise ₹4,321 crore, which includes a fresh issue of ₹3,600 crore, as well as an offer for sale (OFS) of 48 lakh equity shares.
Afternoon Energies GMP
There is a lot of buzz regarding IPO in the gray market. The stock is trading at a premium of 105 percent to the issue price. This means that if we look at the current price, the stock can double. GMP is showing around Rs 1,565 per share. Based on this price, listing can happen at Rs 3068 per share. However, let us tell you that the gray market is not listed. This is just an indicator where rapid changes occur.
To invest money or not?
Now the question arises whether you have to invest money in IPO or not? So Monarch Networth Capital has advised to subscribe to the issue. He also says that the financials of Waaree Energies are strong and the company is a big player in the renewable energy sector. Waaree Energies has every opportunity to become the market leader in the rapidly growing solar energy sector.
When is the listing?
The allotment process for Waaree Energies IPO is expected to end on October 24, while the issue will be listed on BSE, NSE, with the tentative date of listing set as October 28, 2024.
business model
Waaree Energies, which is one of the leading players in the solar energy industry in India. The company is focused on PV module manufacturing, with a total installed capacity of 12 GW by June 30, 2023. The company operates five manufacturing facilities in Surat, Tumbh, Nandigram and Chikli in Gujarat and an Indosolar facility in Noida in Uttar Pradesh.