Waaree Energies IPO Allotment Status Released: GMP Indicates Multibagger Returns for Allottees on Listing Date

The allotment status for the Waaree Energies IPO was made public on Friday. Following the ‘T+3’ listing rule, applicants anticipated this announcement after three days of strong bidding that ended on Wednesday evening. The listing date for Waaree Energies shares is set for October 28, 2024 (next Monday). Starting at 10:00 AM on that day, Waaree Energies shares will be available for trading on both BSE and NSE.

Waaree Energies IPO GMP Today

The grey market for Waaree Energies IPO is showing a positive trend ahead of its listing date. Today, the Grey Market Premium (GMP) stands at â‚ą1,591, an increase of â‚ą61 from Thursday’s GMP of â‚ą1,530. This is encouraging news, especially given the pressure on secondary market sentiments due to significant selling in the banking and auto sectors. Experts suggest that the grey market is indicating a multibagger return for fortunate allottees, despite the overall weak sentiment on Dalal Street.

Understanding Waaree Energies IPO GMP:

  • GMP Definition: The Grey Market Premium (GMP) is the extra amount investors are willing to pay for shares in the grey market before they officially list on the stock exchange. It reflects market sentiment and expectations for a company’s performance on its listing day.
  • Current GMP: With the GMP for Waaree Energies at â‚ą1,591, market analysts predict that the listing price could be around â‚ą3,094. This is calculated by adding the upper price band of the IPO (â‚ą1,503) to the GMP (â‚ą1,591), indicating a potential gain of about 106% above the IPO price.
  • Caution from Experts: While the GMP can indicate strong demand, experts caution that it is not a reliable measure for assessing the actual listing gain. The grey market is unregulated and does not consider the company’s financial health. They advise investors to rely on thorough analysis of the company’s fundamentals rather than solely on GMP figures.

In summary, while the high GMP suggests optimism about Waaree Energies’ IPO performance, it’s essential for investors to do their homework based on the company’s financials before making any decisions.

The Waaree Energies IPO is set to be listed on both the BSE and NSE on October 28, 2024. Investors will be able to start trading the shares at 10:00 AM on that day.

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