Key Points
- Waaree Energies IPO received 4.76 crore bids for 2.11 crore shares.
- The IPO was 2.26 times oversubscribed on its first day.
- Non-Institutional Investors’ segment was particularly strong at 4.91 times subscription.
- Qualified Institutional Buyers showed a weak response, with only 0.05 times subscription.
- The IPO remains open until October 23, 2024.
Looma News
Waaree Energies Limited is off to a fantastic start with its IPO. On day one of bidding, they scored an impressive 4.76 crore bids for just 2.11 crore shares available. That’s a solid 2.26 times oversubscribed, pretty exciting, right?
The Non-Institutional Investors (NII) really stole the show, with their segment flying high at 4.91 times oversubscription. Small NIIs were particularly enthusiastic, subscribing an amazing 6.24 times! Retail investors also got in on the action, bidding 2.42 times their shares, mostly going for cut-off price bids—a smart move!
However, it wasn’t all sunshine. Qualified Institutional Buyers (QIBs) seemed a bit shy, managing only a tiny 0.05 times subscription. That’s a big difference compared to the buzz from NIIs and retail investors. Even foreign institutional investors only pitched in for 1.38 lakh shares, while domestic institutions barely showed up with just 2,142 shares.
The good news? This IPO is still open until October 23, 2024. Waaree has set aside a decent chunk of shares for each category: 58.37 lakh for QIBs, 44.35 lakh for NIIs, and a whopping 1.03 crore for retail investors. Plus, there are 4.55 lakh shares reserved just for employees. It’ll be interesting to see how this all plays out.
