The listing ceremony of Waari Energies Limited took place on the National Stock Exchange.
Shares of Vaari Energies Limited and Deepak Builders and Engineers India Limited have been listed on the stock exchange today (28 October). Shares of Vaari Energies were listed at ₹2550 on the Bombay Stock Exchange (BSE), 69.66% above the issue price. The shares were listed at ₹2,518.00 on the National Stock Exchange (NSE), up 67.53% from the issue price. The issue price of Vaari Energies' IPO was ₹1503 per share.
At the same time, shares of Deepak Builders and Engineers India were listed at ₹198.50, 2.22% below the issue price on BSE. The share was listed on NSE at ₹200, 1.48% below the issue price. The issue price of Deepak Builders' initial public offer was ₹203 per share.
Both IPOs were open from 21 to 23 October The IPOs of Vaari Energies and Deepak Builders and Engineers India were open from 21 to 23 October. Waari Energies' IPO was subscribed a total of 79.44 times in three trading days. The issue was subscribed 11.27 times in the retail category, 215.03 times in the Qualified Institutional Buyers (QIB) category and 65.25 times in the Non-Institutional Investors (NII) category.
Whereas, the IPO of Deepak Builders and Engineers India was subscribed a total of 41.54 times. This issue was subscribed 39.79 times in retail category, 13.91 times in QIB and 82.47 times in NII category.
1.Waari Energies Limited: The issue was worth ₹4,321.44 crore. This IPO total of Vaari Energies Limited was ₹ 4,321.44 crore. For this, the company issued 23,952,095 fresh shares worth ₹3,600 crore. At the same time, the existing investors of the company sold 4,800,000 shares worth ₹ 721.44 crore through Offer for Sale i.e. OFS.
Retail investors could bid for maximum 14 lots Vaari Energies had fixed the IPO price band between ₹1,427 and ₹1,503. Investors could bid for lots of 9 shares and then in multiples of 9. That means, one would have to invest Rs 13,527 for one lot. One could bid ₹ 1,000,998 for a maximum of 14 lots.
Company will build solar cell and solar PV module manufacturing facility The Mumbai-based company will use the proceeds from the fresh issue to set up a 6GW (gigawatt) ingot wafer, solar cell and solar PV module manufacturing facility in Odisha. Additionally, a portion will be used for general corporate purposes.
Vaari Energy is one of the major players in the solar energy industry in India. It operates five manufacturing facilities in Gujarat with one factory located at Surat, Tumbh, Nandigram and Chikhali. There is also an Indosolar facility in Noida, Uttar Pradesh.
2. Deepak Builders and Engineers India Limited: The issue was worth ₹260.04 crore. This IPO total of Deepak Builders and Engineers India was ₹ 260.04 crore. For this, the company issued 10,700,000 fresh shares worth ₹217.21 crore. At the same time, the existing investors of the company sold 2,110,000 shares worth ₹ 42.83 crore through Offer for Sale i.e. OFS.
Retail investors could bid for maximum 949 shares Deepak Builders and Engineers India had fixed the price band of this issue at ₹192-₹203. Retail investors could bid for a minimum of one lot i.e. 73 shares. If you apply for 1 lot as per the upper price band of IPO of ₹ 203, then you would have to invest ₹ 14,819.
At the same time, retail investors could apply for a maximum of 13 lots i.e. 949 shares. For this, investors would have to invest ₹ 192,647 as per the upper price band.
Deepak Builders and Engineers India was established in 2017. Established in 2017, Deepak Builders & Engineers India Limited is a construction company that constructs administrative, institutional and residential buildings, hospitals, stadiums, residential complexes and other buildings.
The company has completed turn key projects ranging from Architectural, Structural, Civil, MEP, Fire Fighting Systems, Public Health Services, IT Systems, Operation Theatre, Medical Gas Pipelines and Landscaping.
Graphics Source: VaskarAssets
