Waaree Energies Shares Drop 5% on First Day of Trading on BSE

Following its listing on the exchanges today, the share price of Waaree Energies fell by about 5%. Following the listing, the shares of the solar PV module producer fell to ₹2,429.55 at 12 pm IST on Monday, October 28, 2024, on the Bombay Stock Exchange (BSE). This represented a 120.45-point, or 4.72%, decline from the ₹2,550 opening price.

Waaree Energies Lists on BSE with Strong IPO, Begins Trading at 10:00 AM in SPOS

October 21–23 was the subscription period for the company’s public offering, and October 25 was the start of the allocation. The stock was traded as part of a Special Pre-open Session (SPOS) and started trading at 10:00 AM today.

Trading Members of the Exchange are hereby informed that effective from Monday, October 28, 2024, the equity shares of Waaree Energies Limited shall be listed and admitted to dealings on the Exchange in the list of ‘B’ Group of Securities,

a BSE notice

At about ₹1,274 per share, the company’s grey market premium (GMP) was between 80 and 100 percent. Through a new offering of 2.4 crore equity shares valued at ₹3,600 crore and an offer for sale (OFS) of 48 lakh shares totaling ₹721.44 crore, the business has now generated ₹4,321.44 crore from the book-built issue.

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