New Delhi: The IPO of Waaree Energies Limited, a leading solar PV module manufacturer, has witnessed significant interest from investors. The bidding period, which opened on October 21, ends today. On the second day of the issue, the IPO was oversubscribed 8.81 times, with strong participation from non-institutional and retail investors.

Waaree Energies IPO: Category-Wise SubscriptionAccording to BSE data, non-institutional investors (NIIs) led the demand, subscribing 24.38 times of their allotted portion, while retail investors subscribed 6.39 times. The Qualified Institutional Buyers (QIBs) segment was subscribed 1.73 times, and the employee segment saw 3.11 times subscription. On the first day, the IPO was subscribed 3.32 times, with NIIs subscribing 8.09 times and retail investors booking 3.17 times of their portion. Waaree Energies IPO: Latest GMPThe grey market premium (GMP) for Waaree Energies IPO has been soaring. Observers report that the GMP is currently at Rs 1,375, which is 91.48 per cent above the upper issue price of Rs 1,503. The grey market activity over the past 10 sessions suggests a bullish trend, with the GMP ranging from Rs 0 to Rs 1,545. Experts anticipate a strong listing performance based on current trends. Waaree Energies IPO: Price Band And Fundraising PlanWaaree Energies has set the IPO price band at Rs 1,427 to Rs 1,503 per share, with the company aiming to raise Rs 4,321.44 crore. Out of this, Rs 3,600 crore will come from the issuance of fresh shares. Waaree Energies IPO: Latest GMPThe grey market premium (GMP) for Waaree Energies IPO has been soaring. Observers report that the GMP is currently at Rs 1,375, which is 91.48 per cent above the upper issue price of Rs 1,503. The grey market activity over the past 10 sessions suggests a bullish trend, with the GMP ranging from Rs 0 to Rs 1,545. Experts anticipate a strong listing performance based on current trends.

Waaree Energies IPO: Should You Subscribe?"We believe that, with solar energy emerging as a key global theme in the transition to renewable energy, WEL is well placed to capitalize on the growing opportunity given its leading market share, strong financials, and continued focus on innovation and sustainability with capacity expansion through backward integration. Hence to enjoy company’s legacy backed by government support transit in renewable energy domestically could be additional growth opportunities. Therefore, we recommend to “Subscribe” to this IPO issue," said Rinkle Vira, Manager - Equity Fundamental Research Analyst at Anand Rathi Share and Stock Brokers.( Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. Times Now Digital suggests its readers/audience to consult their financial advisors before making any money-related decisions.)