Waaree Energies, one of the India’s solar based company, debuted on the stock market with a 56 per cent gain on its first trading day
Opening Surge and Intraday Swings
Waaree Energies’ shares opened at Rs 2,500 on the NSE, marking a 66.3 per cent premium over the issue price of Rs 1,503.
This surge was anticipated following the exceptional IPO interest but faced slight volatility due to profit-taking pressures.
Throughout the day, the stock touched an intraday high of Rs 2,624.4 and a low of Rs 2,300 before closing at Rs 2,338.9 on the NSE, a 55.62 per cent above its issue price.
Share performance NSE |
Meanwhile, on the BSE, the shares wrapped up the day at Rs 2,336.8, reporting a 55.48 per cent gain.
Subscription
Waaree Energies’ public issue, valued at Rs 4,321 crore, was booked 76.34 times between October 21 to 23.
This resulted in bids for a 160.91 crore shares against the 2.10 crore shares available, setting a record for the highest IPO subscription in October.
Image used for representational purposes only |
Furthermore, the company raised approximately Rs 3,600 crore through fresh issues and Rs 721.44 crore via an offer-for-sale.
Market capitalisation
The company closed the day with a market capitalization of Rs 67,132.34 crore.
About the trading volumes, the company reported with 2.15 crore equity shares exchanged on the NSE and 24.25 lakh shares on the BSE.