Waaree Energies, one of India’s larger solar photovoltaic-module manufacturers, listed on October 28 after an IPO that closed more than 76 times subscribed — a strong signal of institutional appetite. The issue was priced between ₹1,427 and ₹1,503 a share and drew ₹1,277 crore from anchor investors ahead of opening.
Market analysts leaned bullish into listing day: several pointed to premium estimates approaching or exceeding the IPO price itself, citing Waaree’s scale — an aggregate installed capacity of roughly 12 GW — and its position in the solar manufacturing sector as reasons for the enthusiasm around the debut.