Waaree Energies Share Price: Waaree Energies’ shares made an impressive market debut on Monday, October 28, listing at a significant premium over the issue price. However, the initial momentum was short-lived, as investors opted to book profits, leading to a decline in the company’s share price.

The stock plummeted to an intraday low of Rs 2,300 on the NSE, a decline of nearly 8%. On the BSE, it tumbled almost 10% to Rs 2,294.55 per share. Analysts have divergent opinions on Waaree’s long-term outlook. Some are predicting to hold, some are saying to buy, and some are saying to sell.

Waaree Energies’ shares began trading on the BSE at Rs 2,550 per share, representing a 69.66% premium over the IPO allotment price of Rs 1,503, and on the NSE at Rs 2,500 per share, a 66.33% premium. Ahead of its listing, Waaree Energies’ unlisted shares were trading in the grey market at a premium of Rs 1,275, indicating a potential 84.83% surge over the IPO allotment price of Rs 1,503, and suggesting a robust market debut, said media reports.

Waaree Energies Share Price: An Overview

The Waaree Energies IPO saw an overwhelming response on the third day, with a staggering subscription of 76.34 times, largely fuelled by institutional investors who bid for 208.63 times the available shares, while non-institutional investors subscribed 62.48 times. The retail investor category garnered a subscription of 10.79 times.

The IPO received an unprecedented response from investors, shattering previous records by Bajaj Housing Finance, Tata Technologies, and LIC, to achieve the highest application volume in the history of Indian IPOs, according to reports.

The Waaree Energies IPO was open for subscription from October 21 to October 23. The public offering consisted of a fresh issue of 23,952,095 new shares and an offer for sale of 23,952,095 existing shares, with a face value of Rs 10 per share. The Company fixed the IPO price range at Rs 1,427-1,503 per share.

(Disclaimer: This stock market news is for informational purposes only and should not be construed as investment advice.)

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