Waaree Energies IPO GMP Price: Today is a very special day for investors subscribing to Vari Energies. Actually, shares will be allotted today to the investors who subscribe for the IPO. This IPO, which opened on Monday, 21 October, closed on Wednesday, 23 October. The company's IPO received tremendous support from investors. The IPO of Vaari Energies received a total subscription of 79.44 times. For this IPO, QIB subscribed the maximum 215.03 times while retail investors subscribed 11.27 times.
Company is raising Rs 4,321.44 crore from IPO
Vaari Energies has fixed the price band of Rs 1427 to Rs 1503 for each share under its IPO. A total of Rs 4,321.44 crore is going to be raised through this IPO. In this, 2,39,52,095 new shares worth Rs 3,600.00 crore will be issued. Whereas the promoters of the company will issue 48,00,000 shares worth Rs 721.44 crore through OFS.
The company will be listed in the stock market on October 28.
This is a mainboard IPO, which will be listed on both the major exchanges BSE and NSE. After the allotment of shares today, the shares will be credited to the demat accounts of the investors on Friday, October 25 and then finally the company will be listed in the stock market on Monday, October 28.
Company's shares create buzz in gray market
Due to the overwhelming response received by Vaari Energies from the investors, the shares of the company are making waves in the gray market also. According to the website that tracks gray market premium or GMP of shares, today i.e. Thursday, October 24, the GMP price of Vari Energies shares is Rs 1560 (103.79 percent). Let us tell you that even on Wednesday, the GMP price of Waari Energies shares was only Rs 1560. This is the highest premium ever for the company's shares.
Image Credit: India-Tv.