MUMBAI: Shares of Waaree Energies Ltd jumped almost 75% early in their trading debut after a US$514mil initial public offering (IPO) by India’s largest solar-panel maker, bringing back optimism for the market after the nation’s biggest IPO disappointed investors last week.
The stock climbed to as high as 2,624.40 rupees yesterday, from its issue price of 1,503 rupees. The Mumbai-based firm’s IPO had seen strong interest, getting subscribed more than 70 times and attracting investments from the likes of Goldman Sachs Group Inc, BlackRock Inc and Morgan Stanley.
