Waaree Energies IPO Anchor Allocation at 29.55%

Waaree Energies IPO saw a positive anchor allocation response, with 29.55% of the total IPO size subscribed by anchor investors. Out of 28,752,095 shares on offer, anchors picked up 8,495,887 shares, demonstrating strong market confidence. The anchor allocation details were reported to the stock exchanges on 18th October 2024, just ahead of the IPO opening on 21st October 2024.

The book-built issue of ₹4,321.44 crores comprises a fresh issue of 23,952,095 shares aggregating to ₹3,600.00 crores and an offer for sale of 4,800,000 shares aggregating to ₹721.44 crores. The price band is set at ₹1427 to ₹1503 per share, with a face value of ₹10 per share. This includes a share premium of ₹1493 per share at the upper end of the price band.

The anchor allocation process, which took place on 18th October 2024, saw strong participation from institutional investors. The entire anchor allocation was made at the upper end of the price band, ₹1503 per share, indicating robust demand and confidence in the company's prospects.

After the anchor allocation, the overall allocation of the Waaree Energies IPO looks as follows:

Notably, the 8,495,887 shares allocated to anchor investors were reduced from the original Qualified Institutional Buyers (QIB) quota. As a result, the QIB quota has been reduced from 48.81% before the anchor allocation to 19.26% after the allocation. This adjustment ensures that the overall allocation to QIBs, including the anchor portion, remains within regulatory limits.
 

The lock-in period for anchor investors is an important aspect of the allocation. For Waaree Energies Limited IPO, the lock-in details are as follows:

• Lock-in Period (50% Shares): 23rd November 2024 
• Lock-in Period (Remaining Shares): 22nd January 2025

This lock-in period ensures that anchor investors maintain their investments for a specified duration, stabilising the stock price after listing.
 

Anchor Investors in Waaree Energies IPO

Anchor investors are typically large institutional investors allotted shares in an IPO before it opens to the public. The anchor allocation process is a crucial part of the IPO, as it helps in price discovery and builds confidence among retail investors. The strong response from anchor investors often sets a positive tone for the public issue and can influence the overall subscription levels.

On 18th October 2024, Waaree Energies IPO completed the bidding for its anchor allocation. There was a robust response as the anchor investors participated in the book-building process. A total of 8,495,887 shares were allotted to 92 anchor investors. The allocation was done at the upper IPO price band of ₹1503 per share, resulting in an overall anchor allocation of ₹1,276.93 crore. The anchors have already absorbed 29.55% of the total issue size of ₹4,321.44 crore, indicating strong institutional demand.

Out of the total allocation of 8,495,887 Equity Shares to the Anchor Investors, 2,831,970 Equity Shares (i.e., 33.33% of the total allocation to Anchor Investors) were allocated to 17 domestic mutual funds through a total of 45 schemes.
 

Key IPO Details:

• IPO Size: ₹4,321.44 crores
• Shares Allocated to Anchors: 8,495,887
• Anchor Subscription Percentage: 29.55%
• Listing Date: 28th October 2024
• IPO Opening Date: 21st October 2024

Read more about Waaree Energies IPO

About Waaree Energies and How to Apply for Waaree Energies IPO

Incorporated in December 1990, Waaree Energies Limited is an Indian manufacturer of solar PV modules with an aggregate installed capacity of 12 GW. The company's product portfolio consists of multicrystalline modules, monocrystalline modules, and TopCon modules, including flexible bifacial modules (Mono PERC), both framed and unframed, as well as building-integrated photovoltaic (BIPV) modules.

As of 30th June 2023, the company operates four manufacturing facilities in India, covering a total area of 136.30 acres. These facilities are located in Surat, Tumb, Nandigram, and Chikhli in Gujarat, India. The company served a total of 373 customers in India and 20 customers outside India as of 30th June 2023.
 

To Open a DEMAT Account for free with 5paisa:

- Enter your mobile number and email
- Enter your PAN and bank details
- Enter your Aadhar and link it via Digilocker
- Take a selfie
- Fill e-sign form
- Start trading

Open Demat Account Online for Free

To apply for IPO through 5paisa, you can follow these steps:

1. Log in to your 5paisa account
2. Go to the IPO section and select the IPO you want to invest in
3. Enter the number of lots and price you want to apply for
4. Enter your UPI ID
5. Review your details and click Submit
6. Approve the UPI notification on your phone

After you submit your bid, the exchange will approve it and you'll receive a notification to block funds in your UPI app. Once you approve the block request, the required amount will be deducted from your bank account. If your application is successful, shares will be credited to your Demat account on the allotment date.