The Rs 4,321-crore IPO of Waaree Energies, a Mumbai-based solar power solutions provider, has received a strong response from investors on the second day of bidding. The issue was oversubscribed by 5.53 times, with investors bidding for 9.5 crore shares against the 2.1 crore shares available. Retail investors oversubscribed by 4.88 times, while non-institutional investors oversubscribed by 14.55 times. Market observers have also noted a grey market premium of around Rs 1500 per share for the IPO.