Waaree Energies IPO subscription

At a time when the stock market showed a hopeless trend for investors, the Rs 4,321 crore IPO saw an extraordinary response. It garnered bids worth Rs 2.41 lakh crore and achieved an overall subscription rate of 76 times. Institutional investors led the charge with a remarkable 208 times subscription, while non-institutional investors subscribed 62 times. The company intends to use the funds to establish a 6 gigawatt (GW) manufacturing facility for ingots, wafers, solar cells, and PV modules.



Waaree Energies Ltd's IPO, focused on solar PV modules, experienced unprecedented demand, setting a record for the highest number of applications ever received for an IPO. The bidding period has concluded, and applicants are eagerly awaiting the allotment status, which will be finalized today, October 25. Share allotment has been established following the subscription window from October 21 to 23. Successful applicants can expect shares credited to their demat accounts today, while refunds for unsuccessful bidders will also be processed.

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