Waaree Energies Limited’s IPO witnessed robust demand on its second day of bidding, with overall subscription reaching 12.31 times the number of shares on offer, by noon on October 23. The issue received bids for 25.95 crore shares against 2.11 crore shares on offer.
The Non-Institutional Investors (NII) category showed exceptional interest, with a subscription rate of 37.62 times. Large NIIs (bid amount over ₹10 lakh) led with 40.38 times subscription, while smaller NIIs recorded 32.09 times subscription.
Retail investors significantly increased their participation, with their portion subscribed 7.65 times. The majority opted for cut-off price bids, accounting for 6.98 crore shares.
The Qualified Institutional Buyers (QIBs) segment improved substantially, reaching 2.04 times subscription. Notable participation came from FIIs (10.34 lakh shares), domestic financial institutions (13.56 lakh shares), and mutual funds (13.48 lakh shares).
The employee portion was subscribed 3.63 times, with most choosing the cut-off price option.
The IPO, which opened on October 21 will close for subscription today. The solar panel manufacturer’s strong showing by noon indicates significant investor interest across categories, with several trading hours still remaining.