Indosolar OFS: Waaree Energies to Offload 4.76 Lakh Shares at ₹10
By Ankur Chandra | Updated at: Jun 4, 2025 09:50 PM IST
Mumbai, June 4, 2025 — Waaree Energies Limited, promoter of Indosolar Limited (BSE: 533257), has announced a two-day Offer for Sale (OFS) to offload up to 4,76,495 equity shares, representing 1.15% of Indosolar’s paid-up equity capital. The OFS will be conducted through stock exchanges on June 5 (T Day) for non-retail investors and June 6 (T+1 Day) for retail investors.
Key Offer Details
| Particulars | Details |
|---|---|
| Seller | Waaree Energies Limited |
| Company | Indosolar Limited |
| Offer Size | Up to 4,76,495 shares (1.15% of paid-up equity) |
| Floor Price | ₹10 per share |
| Retail Discount | None |
| Designated Stock Exchange | BSE |
| Offer Dates | June 5 (Non-retail), June 6 (Retail) |
| Seller’s Broker | Antique Stock Broking Ltd |
The OFS is being undertaken to achieve the minimum public shareholding norms mandated under Rule 19A(5) of the Securities Contracts (Regulation) Rules, 1957 and Regulation 38 of SEBI’s Listing Obligations and Disclosure Requirements (LODR) Regulations.
Allocation Methodology
- Non-retail investors can bid on June 5 and may carry forward unallotted bids to June 6.
- Retail investors can participate only on June 6, with a reservation of at least 10% of the offer size.
- A minimum of 25% of the offer is reserved for mutual funds and insurance companies.
Bidding will follow a proportionate allocation at a single clearing price of ₹10. Retail investors must ensure cumulative bids across BSE and NSE remain within ₹2 lakh to stay eligible.
Strategic Context
Waaree’s move aligns with regulatory directives on public float and signals its intent to remain compliant while allowing wider public participation in Indosolar. The company has opted not to offer any discount to retail investors, and no green shoe option has been exercised.
Settlement & Timelines
- Non-retail (T Day) settlements occur on T+1.
- Retail and carried forward bids from non-retail (T+1 Day) will settle on T+2.
- Unallocated funds will be refunded post obligation download.
This OFS marks another step in increasing liquidity and public float in the solar manufacturing space, with Waaree Energies playing a key role in fostering greater market participation in Indosolar.
REF: https://nsearchives.nseindia.com/corporate/vipulr_04062025180323_OFS_INDOSOLARsigned.pdf
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