Investors will receive debit messages from their banks regarding the allotment, which will be conducted on a lottery basis. The entire process is supervised by the registrar.
The allotment status can also be checked through the BSE or by visiting the registrar’s website. Here’s how you can check the status on the BSE or the registrar’s website.
Here’s how you can check Waaree IPO allotment status on BSE
Step 1: Visit the BSE Website (https://www.bseindia.com/investors/appli_check.aspx)
Step 2: Please select the issue name, that is the company’s name in the drop-down.
Step 3: Enter the application number or PAN number to check the allotment status.
To check the status of the Waaree Energies IPO allotment through the registrar LinkIntime India, follow the steps below::
Step 1: Visit the Link Intime India website (https://linkintime.co.in/initial_offer/public-issues.html)Step 2: Select Waaree Energies IPO
Step 3: Enter the PAN details and click search to know the status
Waaree Energies IPO subscription
The Rs 4,321 crore IPO received an overwhelming response from investors, attracting bids worth Rs 2.41 lakh crore. The overall subscription stood at 76 times at close, driven by a 208 times subscription in the institutional category and a 62 times subscription in the non-institutional investors’ portion.
The company plans to use the funds raised from the IPO for key initiatives, including establishing a 6 gigawatt (GW) manufacturing facility for ingots, wafers, solar cells, and PV modules in Odisha, as well as for general corporate purposes.
Waaree Energies is the largest manufacturer of solar PV modules in India, with the highest aggregate installed capacity of 12 GW as of June 2024. For Fiscal 2024, the company recorded the second-best operating income among all domestic solar PV module manufacturers in India.
It is also expanding its footprint by establishing a 3 GW manufacturing facility in the United States, further diversifying its operational capabilities.
For FY24, the company’s revenue from operations jumped 69% year-on-year to Rs 11,398 crore, while profit after tax more than doubled to Rs 1,274 crore.
Axis Capital, IIFL Securities, Jefferies India, Nomura Financial, SBI Capital, Intensive Fiscal Services, and ITI Capital are the book-running lead managers for the issue.
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