Indosolar Makes a Strong Market Comeback with ₹165 Listing Price, Powered by FY25 Profits and Waaree Energies Takeover
By HDFC SKY | Published at: Jun 19, 2025 02:09 PM IST
New Delhi, June 19, 2025 – After a three year absence Indosolar Ltd (NSE: INEOSOLAR) surged to the 5% upper circuit on Wednesday, climbing to ₹173.32 in early trade and holding steady at ₹173.31 as investor enthusiasm soared. This rally comes on the heels of the company’s relisting under its new identity, WaareeIndo, and the strategic management takeover by Waaree Energies, reigniting market optimism.
Stock Performance Highlights
| Metric | Value |
|---|---|
| Last Traded Price | ₹173.31 |
| Day’s Gain | ₹8.25 (+5.00%) |
| 1-Week Gain | ₹163.61 (+1,684.96%) |
| Previous Close | ₹9.71 |
| Open Price | ₹165.07 |
| Day’s High/Low | ₹173.32 / ₹165.07 |
| VWAP | ₹172.20 |
The stock has now gained an extraordinary 1,685% in just a week, reflecting bullish sentiment around the company’s transformation and improved financial position.
What’s Fueling the Rally?
Indosolar’s relisting under the new name WaareeIndo comes after the BSE and NSE approvals, following its acquisition by Waaree Energies through insolvency proceedings under the IBC 2016. The company, once debt-laden, has reported a turnaround with a net profit of ₹55 crore in FY25, reversing a ₹15.44 crore loss in FY24.
Capital Restructuring & Shareholding Changes
| Particulars | Before | After |
|---|---|---|
| Equity Shares Outstanding | 37,20,67,116 | 37,20,671 |
| Face Value per Share | ₹10 | ₹10 |
| Reduction Ratio | 100:1 | Post restructuring |
All shares held by former promoters were extinguished without compensation.
To meet SEBI’s minimum public shareholding norms, Waaree Energies offloaded 1.15% stake (4,76,495 shares) via an Offer for Sale (OFS) on June 5–6, 2025, at a floor price of ₹10 per share.
Trade Snapshot
| Trade Metrics | Value |
|---|---|
| Traded Volume | 0.03 lakh |
| Traded Value | ₹0.05 crore |
| Market Cap | ₹721.08 crore |
| Buy Quantity (Bids) | 64.85 lakh |
| Sell Quantity (Asks) | Nil |
The scrip is now placed in the BE series under the T Group, with restricted trading based on delivery-based settlement.
Strategic Outlook
Indosolar is getting a fresh start with the help of Waaree Energies, a well-known maker of solar modules. The group’s stronger financial position, export contracts, and focus on increasing capacity provide it long-term promise, especially since India wants to be able to make its own solar energy.
About the Company
Indosolar Ltd, now WaareeIndo, is a listed entity originally focused on solar photovoltaic cell manufacturing. Post its insolvency-led acquisition, it is now managed by Waaree Energies and relisted on the BSE and NSE with a cleaned-up balance sheet and new growth direction. The company was originally listed on September 29, 2010.
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