Waaree Energies IPO Allotment Confirmed; GMP Hints at Strong Returns for Allottees on Listing Day

The IPO allotment status for Waaree Energies was officially made public on Friday, following high anticipation due to the ‘T+3’ listing rule. Bidders were eager for the allotment status on Thursday evening after three days of strong demand, which concluded on Wednesday night. With the allotment confirmed, the listing date for Waaree Energies is set for October 28, 2024, which is next Monday. On this date, Waaree Energies shares will be available for trading on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) starting at 10:00 AM.

Waaree Energies IPO Grey Market Premium (GMP) Today

The grey market has shown positive movement in anticipation of the Waaree Energies IPO listing, with expectations for substantial gains on the listing day. According to market observers, Waaree Energies’ Grey Market Premium (GMP) today has risen to ₹1591, which is an increase from Thursday’s GMP of ₹1530. This is a positive indicator, particularly given recent challenges in the secondary market due to sell-offs in sectors like banking and automobiles. Experts suggest that despite weak sentiment on Dalal Street, the grey market is still hinting at a strong listing gain for those who secured shares in the IPO.

What Does This Waaree Energies IPO GMP Indicate?

With today’s Waaree Energies IPO GMP at ₹1591, the grey market is estimating that Waaree Energies’ listing price could be around ₹3,094 (upper price band of ₹1503 + GMP of ₹1591). This projected price suggests a potential 106% premium over the IPO’s upper price band. However, stock market experts caution that grey market activity is not a fully reliable indicator of listing-day gains. They highlight that the grey market operates outside regulated stock exchanges and does not always reflect the company’s balance sheet or long-term value. Experts advise allottees to trust the research they conducted on the company’s financials when deciding on investment actions post-listing.

Waaree Energies IPO Listing Date and Timing

According to the Bombay Stock Exchange (BSE), shares of Waaree Energies will be listed on both the BSE and NSE on October 28, 2024. Investors can begin trading Waaree Energies’ shares starting at 10:00 AM on Monday. The BSE’s notice confirms that “Trading Members of the Exchange are hereby informed that effective from Monday, October 28, 2024, the equity shares of Waaree Energies Limited shall be listed and admitted to dealings on the Exchange in the list of ‘B’ Group of Securities.”