Waaree Energies IPO: You can get a profit of Rs 1,280 on every share, GMP increases by 85% in gray market – waaree energies ipo sees 85 percent rise in gray market premium gmp as its fix price band date details

Waaree Energies IPO: The initial public offer (IPO) of Vari Energies Limited will open for bidding from October 21 next week. Investors are already quite keen on this IPO and this can be clearly seen from its Gray Market Premium (GMP). The gray market premium (GMP) of Waari Energies shares has increased by about 85 percent before the opening of the IPO. Huge demand for its shares is being seen in the gray market, which shows that its investors are showing huge interest in this IPO.

Let us tell you that gray market is an unofficial platform, where shares are traded before listing in the stock market. Most investors look to the gray market to get an idea of ​​the listing price. However, there is no guarantee that gray market estimates will prove correct.

The gray market premium (GMP) of Waari Energies has jumped to the level of Rs 1,250 to Rs 1,280 in recent times. Vaari Energies has fixed the price band of Rs 1427-1503 per share for the IPO.

Waari Energies IPO will be open for bidding from October 21 to 23. This IPO will be open for single investors for one day on October 18. After closing of bidding, allotment of its shares can take place on October 24. Its shares can be listed on BSE and NSE on October 28.

New shares worth Rs 3,6000 crore will be issued in the IPO of Vaari Energies. At the same time, about 48 lakh shares will be put up for sale by the promoters and existing shareholders of the company. This includes the company’s promoter Waari Sustainable Finance Private Limited and shareholder Chandurkar Investment Private Limited.

Considering the upper price band of Rs 1503, the total size of the IPO is around Rs 4,321 crore. At this price, the market valuation of the company comes to around Rs 43,000 crore.

Vari Energies started its journey in the year 2007 and it manufactures solar photovoltaic (PV) modules. Today it is counted among the leading companies in the solar industry of the country. As per data till June 2023, the company has a total installed capacity of 12 GW and its focus is on manufacturing of PV modules.

The company has a total manufacturing facility. It has four Indosolar facilities in Gujarat (Surat, Tumb, Nandigram and Chikhali) and one in Noida, Uttar Pradesh. During FY2024, Waari Energy’s revenue increased by 70 percent and net profit increased by almost 155 percent.

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