Waaree Energies IPO allotment status out. GMP signals MULTIBAGGER return for allottees on listing date | Stock Market News
Source: Live Mint
Waaree Energies IPO allotment status became public on Friday. In the wake of the ‘T+3′ listing rule, applicants were expecting the announcement of Waaree Energies IPO allotment status on Thursday after the end of three days of record bidding on Wednesday evening. After the announcement of share allocation, Waaree Energies IPO listing date was also announced on 28th October 2024, i.e., on Monday next week. Waaree Energies’ share price will become available for trade on BSE and NSE from 10:00 AM during Monday’s dealings.
Waaree Energies IPO GMP today
Meanwhile, the grey market continues to drop ahead of the Waaree Energies IPO listing date, and strong listing gain hints for the lucky allottees. According to stock market observers, Waaree Energies IPO GMP (Grey Market Premium) today is ₹1591, ₹61 higher than Thursday’s GMP of ₹1530. This is a good sign, as secondary market sentiments are under pressure due to the sharp selling in the banking and auto segments. Experts said the grey market is signalling a multibagger return for lucky allottees despite weak sentiments on Dalal Street.
What does this Waaree Energies IPO GMP mean?
As Waaree Energies IPO GMP today is ₹1591, the grey market expects that the Waaree Energies IPO listing price will be around ₹3,094 ( ₹1503 + ₹1591), which is around 106 per cent higher than the upper price band of ₹1503.
However, stock market experts said that the grey market is not an ideal indicator to assess the potential listing gain. They said the grey market is non-regulated and has nothing to do with the company’s balance sheet. They advised lucky allottees to stick with the basics and follow the conviction they have developed after scanning the company’s financials before investing.
Waaree Energies IPO listing date
According to the BSE, the company’s shares will be listed on the BSE and NSE on 28 October 2024. Waree Enegies’ share price will become available for investors at 10:00 AM on Monday.
“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,” the BSE notice says.
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