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Share Allotment for Waaree Energies Ltd IPO and Ways to Check Allotment Status

  •  3 min read
  •  1,123
  • Published 07 Nov 2024
Share Allotment for Waaree Energies Ltd IPO and Ways to Check Allotment Status

The bidding for the initial public offering of Waaree Energies Ltd closed on 23rd October. Through its IPO, the company planned to raise ₹4231.44 crores. The IPO saw good participation across investors, including qualified institutional buyers (QIBs), retail individual investors and non-institutional investors, among others.

The share allotment has been finalised following a robust market response, and those who have allotted the shares have received a debit message from their banks regarding the allotment. However, if you have applied for Waaree’s shares but have not received a message, you can expect it soon.

While the exact number of shares allotted to different categories of investors is yet to be known, the subscription times from various investors show enthusiasm among investors to own the shares of Waaree Energies Ltd, India’s largest manufacturer of solar PV modules.

As of 23rd October, the subscription times of different categories of investors stood as follows:

Investor Category Subscription Times
Qualified Institutional Buyers
208.63X
Retail Individual Investors
10.79X
Non-Institutional Investors
62.49X
Others
5.17X
  • Not more than 50% of the net offer size shall be allocated to qualified institutional buyers
  • Not less than 15% of the net offer size shall be allocated to non-institutional investors
  • Not less than 35% of the net offer size shall be allocated to retail individual investors

You can check the allotment status of shares either on the website of the Bombay Stock Exchange (BSE) or on the website of the registrar — Link InTime India Pvt Ltd. To check the status on the BSE website:

  • Visit the BSE website
  • Click on “Investor Services” and choose “Application Status Check”
  • Choose the issue type — Equity or Debt (Equity in this case)
  • Select the Issue Name from the drop-down. The issue name is the company’s name, which is Waaree Energies Ltd
  • Enter your application number or PAN number
  • Check the box which says “I’m not a Robot” and click on “Search” to know the allotment status

Follow these steps to know the allotment status on the registrar’s website:

  • Visit the LinkIntime website
  • Choose “Public Issues” from the “Investor Services” drop-down
  • Select Waaree Energies Ltd from the drop-down
  • Enter your PAN number or Application number
  • Click on “Submit” to know the allotment status

In Conclusion

If you get the allotted shares bidded for, your Demat account will get credited with the shares, and money will be debited from your bank account. If not, your application amount will be refunded. If you have not received the allotment, don’t get disheartened. You can buy the shares when they get listed in the secondary market on 28th October.

Disclaimer: This article is for informational purposes only and does not constitute financial advice. It is not produced by the desk of the Kotak Securities Research Team, nor is it a report published by the Kotak Securities Research Team. The information presented is compiled from several secondary sources available on the internet and may change over time. Investors should conduct their own research and consult with financial professionals before making any investment decisions. Read the full disclaimer here.

Investments in securities market are subject to market risks, read all the related documents carefully before investing. Please read the SEBI prescribed Combined Risk Disclosure Document prior to investing. Brokerage will not exceed SEBI prescribed limit.

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