Waaree Energies Shares Debuts With Bumper Listing At ₹2,500 On NSE; Investors Rejoice IPO Profits

Shares of Waaree Energies Ltd. were listed on the BSE on Monday at a premium of 69.66 percent at Rs 2,550 per share following a record-breaking IPO subscription. But soon after the listing, there was profit booking pressure on the shares, which resulted in touching the day low of Rs 2,294.00 per share, a decline of up to 9 per cent.

The share was currently trading at Rs 2,386.70 per share on the NSE (National Stock Exchange). was seeing a a decline of 4.53 per cent amounting to Rs 113.30 per share on the NSE.

Profit on listing

Investors who received allotments of IPO shares also benefitted from the strong listing. For retail investors, the IPO's minimum bid amount was nine shares. At the NSE listing price, the IPO investors who purchased at least one lot in Waaree Energies' primary issue would have profited by Rs 8,973.

The single lot was worth Rs 22,500 (Rs 2,500 x 9) at the listing price of Rs 2,500, compared to Rs 13,527 (Rs 1,503 x 9) at the issue price.

IPO Details

Waaree Energies' initial public offering (IPO) was booked 76.34 times on the final day of bidding, with bids totaling over 160.91 crore shares, compared to the 2.10 crore shares available.

The initial share sale for Rs 4,321.44 crore was subscribed for 76.34 times, with bids for 160.91 crore equity shares out of 2.10 crore shares offered.

IPO price band and minimum bid

A fresh issue of 2.4 crore shares, valued at Rs 3,600 crore, and an offer-for-sale (OFS) component of 48 lakh shares, valued at Rs 721.44 crore, make up the mainboard issue.

A price range of Rs 1,427 to Rs 1,503 per share was set for the IPO. Nine shares, or a Rs 13,527 investment, was the minimum lot size required for retail investors.

Company financials

Waaree's growth has been impressive; from FY22 to FY24, its operational revenue grew at a compound annual growth rate (CAGR) of 99.8 per cent. After-tax profit increased from Rs 79.6 crore in FY22 to Rs 1,274.3 crore in FY24, and ROE increased from 17.69 to 30.26 per cent.