As many as 4.5 crore shares of Waaree Energies or 16% of its outstanding equity will free up for trade as the shareholder lock-in ends, as per the Nuvama Alternative note.
Based on Friday’s closing price, the value of shares that will free up for trade on Monday is ₹15,840 crore.It must be noted that the end of the shareholder lock-in period does not mean that all the shares will be sold in the open market. They only become eligible to be traded.
As per the most recent shareholding pattern, promoters of Waaree Energies had a 64.22% stake in the company, while Domestic Mutual Funds had a 1.32% stake. Nearly 7 lakh retail shareholders, or those with authorized share capital of up to ₹2 lakh, had a 7.34% stake in the company.
Waaree Energies recently reported its results for the July-September period, where its revenue increased by 70% from the year-ago period, while its Earnings Before Interest, Tax, Depreciation and Amortisation more than doubled year-on-year, rising 168% to ₹1,406.3 crore.
Shares of Waaree Energies ended Friday’s trading session 1.31% lower at ₹3,520. As of Friday’s closing, the stock is up 134% from its IPO price of ₹1,503 per share.
