This solar company’s IPO is creating panic, there is a sign of 100% profit, investors are upset.

The IPO of Vaari Energies Limited, a frontrunner in solar PV module manufacturing, has garnered remarkable attention from investors. The IPO, which opened on October 21 and closed on October 23, witnessed a staggering 76 times subscription by the closing day. Institutional investors (QIBs) subscribed 208 times, non-institutional investors (NIIs) 62 times, and retail investors over 10 times.

The price band for the IPO is set between ₹1,427 to ₹1,503 per share, aiming to raise approximately ₹4,321.44 crore at the upper end of the range. This overwhelming response indicates a growing investor confidence in the solar energy sector. The shares are anticipated to be listed on October 28.

Know about GMP

The gray market premium (GMP) for the Vaari Energy IPO has been a topic of interest among investors, currently trading at around ₹1,450, reflecting a potential profit of about 97% over the issue price. Despite a slight decline in GMP due to recent market conditions, it remains robust.

Let us know its complete details.

Vaari Energies Ltd’s IPO totals ₹4,321.44 crore, including fresh shares worth ₹3,600 crore and an offer for sale (OFS) of 48 lakh shares valued at ₹721.44 crore from promoters and existing shareholders. The funds will be utilized to establish a 6 GW production facility for ingot wafers, solar cells, and solar PV modules in Odisha, along with general corporate purposes.