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

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

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.


Rahul Dev

Cricket Jounralist at Newsdesk

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