Waaree Energies IPO Shines Bright with 56% Premium

Waaree Energies Ltd shares closed with a 56% premium over their issue price on both BSE and NSE, following their market entry with a strong debut. The IPO, supported by institutional investors, will finance new manufacturing facilities, expanding their solar module production capabilities across India.

In a stellar market debut, shares of Waaree Energies Ltd closed with a notable 56% premium against the issue price. The stock opened at Rs 2,550 on the BSE, a jump of over 69% from its initial offering, and surged further during the day.

At the close of trading, Waaree Energies' shares settled at Rs 2,336.80 on the BSE and Rs 2,345 on the NSE, reflecting a robust investor interest. The company's market capitalization now stands at Rs 67,132.34 crore.

The IPO, widely subscribed at 76.34 times, attracted strong institutional backing. Proceeds from the IPO will fund the construction of a 6 GW solar manufacturing facility in Odisha, bolstering Waaree Energies' position in India's renewable energy market.

(With inputs from agencies.)