This IPO is creating havoc, shares reach 104% premium even before opening, know details

If you are looking for a great investment opportunity, then Waaree Energies’ IPO can prove to be a great opportunity for you. The IPO of this leading solar panel manufacturing company will open for investment on October 21 and will close on October 23. The special thing is that this share is already trading at a huge premium in the gray market, which is making it even more attractive among investors.

The size of the IPO is Rs 4,321 crore and its price band has been fixed at Rs 497-503 per share. Big investors (anchor investors) will be able to place their bids from October 18 only. Waaree Energies’ growing demand in the solar energy sector and the company’s strong market presence make it a potentially profitable investment.

Know what is most in demand in the gray market

The IPO of solar panel manufacturer Waaree Energies Limited is in the news among investors. There is tremendous demand for this IPO in the gray market. According to reports, shares of Waaree Energies are trading at a premium of Rs 1,565, which is expected to reach Rs 3,068 at the time of listing. This means that investors could see a profit of about 104% on the very first day. This is a Mainboard IPO and is likely to be listed on BSE-NSE on October 28.

Let us know its complete details.

The IPO of Waaree Energies is worth Rs 4,321.44 crore, including fresh shares worth Rs 3,600 crore and an offer for sale (OFS) of 48 lakh shares worth Rs 721.44 crore by the promoter and existing shareholders.

A major portion of the IPO proceeds will be used to set up a 6 GW solar manufacturing facility in Odisha, which will include ingot wafers, solar cells, and solar PV modules. Additionally, a portion will also be reserved for the general corporate purposes of the company.