Waaree Energies Share Price LIVE: Stock Price Falls 5% After Listing at 66.3% Premium

Waaree Energies Limited, a prominent solar PV module manufacturer in India, made its debut on the National Stock Exchange (NSE) and BSE today at ₹2,500, reflecting an impressive 66.3% premium over its issue price of ₹1,503. However, shortly after the listing, the stock faced a decline of about 5%, settling at ₹2,374.9 on the NSE and ₹2,377.5 on the BSE.

The company’s initial public offering (IPO), which was open for subscription from October 21 to 23, had a price range of ₹1,427 to ₹1,503 per share. Investors who secured shares of Waaree Energies saw a profit of ₹8,973 per lot based on the listing price.

Despite the positive start, the drop in stock price could be linked to market fluctuations and profit-taking by investors. Nevertheless, analysts continue to express confidence in the long-term potential of Waaree Energies, highlighting its strong foothold in the renewable energy sector.

A notice from the BSE states, “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