Energy company Waaree Energies made a strong debut on the stock market on Monday. The company’s shares were listed on the BSE at Rs 2,550, while its highest price range was Rs 1,503. It is understood that investors who invested on the first day of this IPO made profits of more than 1,000 rupees per share. Let us tell you that in this IPO, the company’s fixed lot size is 9 shares.
Lower than expected but great list
Waaree Energies’ IPO performance fell short of expectations despite delivering huge gains to investors. As soon as the launch started, it made waves in the gray market, trading at Rs 1,590. In such a case, the investment amount is expected to double on the day of listing. But after the IPO, its GMP started to fall, nevertheless, it was trading at a premium of Rs 1,275 in the gray market at around 6 am on Monday, with an expected listing price of Rs 2,778.
But instead of listing at a premium of 84.83%, it was listed on the BSE at a premium of 69.66%. If we talk about the listing of Waaree Energies shares on the National Stock Exchange (NSE), then the listing price of Waaree Energies shares is Rs 2,500, which is a premium of 66.33%.
This is the calculation of profit
Now let us talk about the profits made by investors investing in Vaari Energies stock on day one. Let us tell you that at the time of the Rs 4321.44-crore IPO, the company had fixed the price band at Rs 1427. 1503 shares, the lot size is 9 shares. This means any investor must bid at least that many shares. Now, as the shares of Vaari Energies are listed on BSE at Rs 2,550 as compared to the fixed cap price band, investors have made a huge profit of Rs 1,047 per share.
Earned so much as soon as it went public
It is understood that when launching the IPO, the company has fixed the lot size at 9 shares and investors will have to invest at least Rs 13,527 as per the upper price band. In this case, if calculated based on listing gains, the amount they invested increased to Rs 22,950 as soon as the company’s shares were listed. This means that investors earned Rs 9,423 per transaction.
IPO received enthusiastic response
The Waaree Energies IPO opened for subscription on October 21, and investor bidding ended on October 23. The IPO received an enthusiastic response from investors. The company issued Rs 240 crore worth of shares through a fresh issue worth Rs 3,600 crore. A total of 4.8 million equity shares worth Rs 721.44 crore were issued through OFS. As of the last trading day, investors in this IPO were actively bidding, with a transaction volume of 79.44 times.
(Note- Always take advice from market experts before making any investment in the stock market and IPO market.)
