Waaree Energies IPO
Waaree Energies Limited (WAAREEENER) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 28 October 2024.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain +50.4% (likely range +28% to +66%), day's high +65.1%, chance of a gain 92%. Actual: +66.3% at the open, +74.6% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 58,37,757 | 1,21,79,37,402 | 209x | |
| NII (HNI) total | 44,35,838 | 27,71,75,268 | 62.5x | |
| Big NII (above ₹10 lakh) | 29,57,226 | 20,19,87,576 | 68.3x | |
| Small NII (₹2-10 lakh) | 14,78,612 | 7,51,87,692 | 50.9x | |
| Retail | 1,03,50,288 | 11,17,01,664 | 10.8x | |
| Employees | 4,55,501 | 23,56,299 | 5.17x | |
| Total | 2,10,79,384 | 1,60,91,70,633 | 76.3x |
Bids on NSE and BSE together, as published by NSE, as of 23 Oct 2024, 07:00 PM. Shares offered exclude the anchor portion. 6% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to Waaree Energies's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| Premier EnergiesAug 2024 | 217x | 50.0x | 7.69x | 74.4x | ₹2,838 Cr | +120.0% | +121.0% |
| Tata TechnologiesNov 2023 | 203x | 62.1x | 16.5x | 69.4x | ₹3,043 Cr | +140.0% | +180.0% |
| IndegeneMay 2024 | 198x | 55.1x | 7.95x | 69.9x | ₹1,840 Cr | +44.9% | +46.0% |
| Emcure PharmaceuticalsJul 2024 | 196x | 48.3x | 7.21x | 67.9x | ₹1,950 Cr | +31.4% | +37.4% |
| Bajaj Housing FinanceSep 2024 | 209x | 41.5x | 7.04x | 63.6x | ₹6,958 Cr | +114.3% | +135.7% |
| SBFC FinanceAug 2023 | 193x | 49.1x | 11.0x | 70.2x | ₹1,082 Cr | +43.9% | +67.5% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| Axis Capital | 107 | +20.4% | 73% |
| IIFL Securities | 94 | +19.3% | 71% |
| Jefferies India | 26 | +19.5% | 81% |
| Nomura Financial Advisory and Securities (India) | 27 | +16.0% | 56% |
| SBI Capital Markets | 56 | +16.7% | 61% |
| Intensive Fiscal Services | 11 | +28.6% | 82% |
| ITI Capital | 5 | +28.9% | 60% |
Offer documents (NSE)
Frequently asked
What is the Waaree Energies IPO price band and lot size? ₹1,427–1,503 per share, with a lot of 9 shares, so the smallest retail bid is ₹13,527.
How many times has it been subscribed? 76.3x overall: QIB 209x, NII 62.5x, retail 10.8x, employees 5.17x.
How did it list? It opened at ₹2,500, +66.3% against the issue price of ₹1,503, and closed its first day +55.6%.
