Waaree Energies Limited’s initial public offering (IPO) closed on October 23, 2024, with robust demand from qualified institutional buyers (QIBs), achieving an overall subscription of 76.34 times.
The QIB portion saw the highest interest with 208.63 times subscription, representing bids for 121.79 crore shares against 58.37 lakh shares on offer.
The non-institutional investors (NIIs) category was subscribed 62.49 times, with NIIs bidding above ₹10 lakh showing stronger interest at 68.30 times compared to 50.85 times for those bidding between ₹2-10 lakh.
Retail investors’ portion was subscribed 10.79 times, with the majority opting for cut-off price bids. The employee portion received relatively modest interest at 5.17 times subscription.
Foreign institutional investors led the institutional demand with bids for 48.77 crore shares, closely followed by domestic financial institutions with 48.56 crore shares. Mutual funds bid for 6.41 crore shares.
The total IPO size was 2.10 crore shares, attracting bids for 160.91 crore shares across all categories. The strong institutional response suggests significant investor confidence in the company’s prospects.