Waaree Energies Share Price: The solar company made a stellar debut on the D-street as the shares got listed at a premium of over 66 per cent
Waaree Energy Listing: The shares of India's largest PV module manufacturer made a robust listing on the D-street on Monday. Waaree Energy shares got listed at a premium of over 66 per cent, opening at Rs 2,500 per share against its issue price of Rs 1,503 on the National Stock Exchange.
Not only the company receive a stellar demand during bidding, but also went on to set a record for the highest number of applications ever received for an IPO. The public offering was oversubscribed by nearly 76.34 times, with bids totaling 160.91 crore equity shares as compared to the 2.10 crore shares available.
At 11:15 am, the shares of Waaree Energies were trading at Rs 2,476 price level, up by nearly 64 per cent on NSE.
Despite Hyundai's lackluster debut on D-Street dampening the overall sentiment around the primary market outlook, investors remain largely optimistic.
Another highly anticipated IPO set to hit the market this year is Swiggy, which is going to make its listing next month.
After a consecutive downtrend causing a bloodbath in the D-street, benchmark indices bounced back on Monday. Both the frontline indices were up by over a per cent.
BSE Sensex was trading at 80,216.85 level mark, up by 1.03 per cent or 814 points. Mahindra and Mahindra, ICICI Bank, Adani Ports, JSW Steel and IndusInd Bank were among the top gainers.
While markets dropped sharply earlier this month, many analysts were still optimistic about the long-term outlook. This was largely because they have been expecting a correction for a while now due to valuation concerns.
The massive shift of FII (Foreign institutional investors) flows from India to China coupled with the uncertainty surrounding the US presidential elections also contributed to the market decline. As for the quarterly earnings, the season has been mostly dull, but improvements are expected in the near term due to the festive season.