Waaree Energies Share Price Today: Stock Plunges Over 10% - Details

Waaree Energies shares witnessed a significant decline on Monday, with the stock plummeting over 10% intraday.

On the NSE, the stock opened in the green at ₹2,680, slightly higher than the previous close of ₹2,673.40. However, it plunged to an intraday low of ₹2,362.25. Around 2:05 PM, the shares were trading at ₹2,395.05, down 10.41%.

On the BSE, the stock opened at ₹2,673.45 and hit a low of ₹2,361.20 before trading at ₹2,393.00 (-10.47%) at 2:07 PM.

Waaree Energies shares have fallen after two days of consecutive gains, now trading below key moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day levels.

Anchor Lock-In Expiry Sparks Sell-Off
The sharp decline comes as the second lock-in period for anchor investors ended, leading to a surge in trading volumes. Waaree Energies, which launched its IPO in October 2024, had allocated 84.96 lakh shares to 92 anchor investors at ₹1,503 apiece. According to SEBI rules, 50% of anchor shares are locked in for 90 days and the remaining 50% for 30 days from the date of allotment.

The company had allotted shares to marquee investors such as Goldman Sachs, BlackRock, Nomura India, Motilal Oswal, Quant Mutual Fund, and Abu Dhabi Investment Authority during its anchor round.

About Waaree Energies
Established in 1990 and headquartered in Mumbai, Waaree Energies is a major player in India’s renewable energy sector. The company specializes in PV module manufacturing with an installed capacity of 12 GW across five facilities in Gujarat and Uttar Pradesh.

Waaree Energies’ IPO was a resounding success, subscribed 76.34 times, and its shares listed at ₹2,600, a 70% premium to the issue price. The company commands a market capitalization of ₹68,746.87 crore as of January 22, 2025, according to the BSE website.