Three significant Initial Public Offerings (IPOs) are set to list on October 28, 2024. These offerings come from Waaree Energies Limited, Deepak Builders & Engineers India, and Premium Plast Limited. Each company is poised to make a substantial impact on the market, providing investors with various opportunities. Here’s an overview of each IPO:

1. Waaree Energies Limited (WEL)

Overview: Waaree Energies is recognized as India’s largest manufacturer of solar PV modules, boasting an aggregate installed capacity of 12 GW as of June 30. Established in 2007, the company focuses on delivering high-quality, cost-effective sustainable energy solutions, ultimately aimed at reducing the carbon footprint and improving the quality of life.

IPO Details:

• Issue Size: ₹4,321.44 Crores
  • Fresh Issue: 239.52 Lakh Shares (₹3,600.00 Crores)
  • Offer for Sale: 48.00 Lakh Shares (₹721.44 Crores)
• Price Band: ₹1,427 to ₹1,503 per share
• Minimum Lot Size: 9 shares
• Retail Investor Minimum Investment: ₹13,527
• HNIs Minimum Investment: 15 lots (135 shares) totaling ₹2,02,905
• Market Capitalization at Upper Band: ₹43,178.66 Crores

Subscription Status: The subscription period for Waaree Energies IPO opened on October 21 and closed on October 23, 2024. As of October 23, 2024, the IPO was subscribed 76.34 times.

Grey Market Premium (GMP): The expected GMP is ₹1,080, reflecting the demand for the company's shares.

Allotment Date: The allotment is expected to be finalized on October 24, 2024.

Objectives: Proceeds from the fresh issue will be utilized for establishing a 6GW manufacturing facility in Odisha and for general corporate purposes.

2. Deepak Builders & Engineers India

Overview: Deepak Builders & Engineers is an integrated engineering and construction company that specializes in constructing administrative buildings, hospitals, residential complexes, and more. Their focus lies in scaling large-scale projects in both the government and private sectors.

IPO Details:

• Issue Size: ₹260.04 Crores
  • Fresh Issue: 107 Lakh Shares (₹217.21 Crores)
  • Offer for Sale: 21.1 Lakh Shares (₹42.83 Crores)
• Price Band: ₹192 to ₹203 per share
• Minimum Lot Size: 73 shares
• Retail Investor Minimum Investment: ₹14,819
• HNIs Minimum Investment: 14 lots (1,022 shares) totaling ₹2,07,466

Subscription Status: The subscription period for Deepak Builders & Engineers IPO also opened on October 21 and closed on October 23, 2024. By the end of the subscription period, the IPO was subscribed 41.54 times.

Grey Market Premium (GMP): The expected GMP is ₹42.

Allotment Date: The allotment is anticipated on October 24, 2024.

Objectives: Proceeds from the fresh issue will be utilized for repayment of borrowings, funding working capital requirements, and general corporate purposes.

3. Premium Plast Limited

Overview: Since its inception in 1995, Premium Plast has evolved from producing two components to over 600 components, specializing in diverse plastic components for various industries, including automotive and industrial.

IPO Details:

• Issue Size: ₹26.19 Crores
  • Fresh Issue: 53.46 Lakh Shares
• Price Band: ₹46 to ₹49 per share
• Minimum Lot Size: 3,000 shares
• Retail Investor Minimum Investment: ₹1,47,000
• HNIs Minimum Investment: 2 lots (6,000 shares) totaling ₹2,94,000

Subscription Status: The subscription period for Premium Plast IPO opened on October 21 and closed on October 23, 2024. The IPO was subscribed 36.96 times on its final day.

Grey Market Premium (GMP): The expected GMP is ₹11.

Allotment Date: The allotment will be available on October 24, 2024.

Objectives: Proceeds from the fresh issue will be utilized for expansion of manufacturing facilities, capital expenditures for solar power plants, repayment of borrowings, and general corporate purposes.

Conclusion

With the listing of Waaree Energies, Deepak Builders & Engineers, and Premium Plast, investors have the opportunity to diversify their portfolios across various sectors. Each IPO reflects robust demand, as evidenced by the subscription rates and grey market premiums. Investors should keep a close eye on the allotment results and market performance post-listing.

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