Waaree Energies Limited IPO: The IPO of solar module manufacturing company Vaari Energy is opening for subscription today i.e. Monday, October 21. This IPO will close on Wednesday, October 23. This is a mainboard IPO, through which Vaari Energy is going to raise a total of Rs 4,321.44 crore. The company has fixed the price band of Rs 1427 to Rs 1503 under its IPO.
Investors will be given 9 shares in one lot
Retail investors will have to invest at least Rs 13,527 to subscribe for this IPO. In this amount investors will be given 9 shares. Additionally, retail investors can bid for a maximum of 14 lots of 126 shares, for which they will have to invest Rs 1,89,378.
Company will issue 2,39,52,095 new shares under IPO
Vari Energy will issue 2,39,52,095 new shares worth Rs 3,600.00 crore under this IPO. Whereas the promoters of the company will issue 48,00,000 shares worth Rs 721.44 crore through OFS. In this IPO, the company has reserved 50 percent quota for QIB category, 35 percent for retail investors and 15 percent for NII.
The company will be listed in the stock market on October 28.
Under this IPO, which is closing on October 23 after opening on October 21, the allotment of shares will be done on Thursday, October 24. The shares will be credited to the demat accounts of investors on Friday, October 25 and then finally the company will be listed on the stock exchange on Monday, October 28. Let us tell you that this is a mainboard IPO, which will be listed on both BSE and NSE exchanges.
Huge demand for Vari Energy shares in gray market
There is huge demand for the company’s shares in the gray market. The company’s IPO is not even open yet and there is a huge fight going on in the gray market for the shares of Vaari Energy. According to websites that track GMP price of shares, on Monday, October 21, shares of Vaari Energy are trading with a whopping GMP of Rs 1510 (100.47 percent).
