Promoters Acquire 6.75% More Stake In Waaree Energies
By Ankur Chandra | Updated at: Jun 4, 2025 03:39 PM IST
Mumbai | June 4, 2025: Promoters and members of the Promoter Group of Waaree Energies Ltd (NSE: WAAREEENER, BSE: 544277) have acquired an additional 1.93 crore equity shares, constituting 6.75% of the company’s total voting capital.
The transaction follows the dissolution of four Hindu Undivided Families (HUFs) and the consolidation of 1,93,80,002 shares, which Waaree Energies’ Promoter group purchased in off-market acquisitions under Regulation 10(1)(g) of SEBI’s Takeover Regulations and are exempt from open offer obligations.
Key Details About The Deal
In a regulatory filing dated June 3, 2025, the company disclosed that Hitesh Chimanlal Doshi HUF, Kirit Chimanlal Doshi HUF, Viren Chimanlal Doshi HUF, and Pankaj Chimanlal Doshi HUF have been dissolved. The shares held by these entities were transmitted to the respective Karta (head) of each HUF:
The shares consolidated by each HUF are as follows:
- Hitesh Chimanlal Doshi: 28.05 lakh shares (0.98%)
- Kirit Chimanlal Doshi: 26.16 lakh shares (0.91%)
- Viren Chimanlal Doshi: 65.73 lakh shares (2.29%)
- Pankaj Chimanlal Doshi: 73.84 lakh shares (2.57%)
Why The Consolidation?
The consolidation and dissolution of the four HUFs are part of intra-group restructuring by Waaree Energies, which aims to streamline ownership under individual promoters, potentially improving clarity in governance and succession planning. Since the promoters of the company will now hold 6.75% more, they will have more control over the decision-making process, enabling the company to make better managerial and operational decisions aimed at expanding in the renewable energy sector.
However, after the consolidation, there has been no change in the overall equity structure of Waaree Energies, which remains at 28.72 crore shares with a face value of ₹10 each.
Where Does the Promoters’ Shareholding Stand?
Following this consolidation, the collective promoter shareholding has risen from 39.19% to 45.93%. The updated individual shareholding positions are as follows:
| Name | Post-Acquisition Holding | % of Voting Capital |
|---|---|---|
| Hitesh Chimanlal Doshi | 3,28,92,381 shares | 11.45% |
| Kirit Chimanlal Doshi | 3,26,25,625 shares | 11.36% |
| Viren Chimanlal Doshi | 3,37,30,044 shares | 11.74% |
| Pankaj Chimanlal Doshi | 3,27,15,162 shares | 11.39% |
| Total | 13,19,63,212 shares | 45.93% |
How Did The Investors React To The News?
The investors took the news positively as the promoter holdings have increased after the consolidation. At around 1:00 PM on June 4, the shares of the company were trading slightly higher at ₹2,893.10, up ₹6 or 0.21%. It made a high of ₹2,940 with a volume of 7.25 lakh shares.
What’s Ahead After The Consolidation?
The deal consolidates the ownership in the hands of key individuals from the Doshi family. With the higher promoter share, the deal is likely to support the company’s governance and improve transparency and accountability for internal stakeholders and public shareholders. However, a recent concern about Donald Trump’s ‘One Big Beautiful Bill Act’ and its significant impact on the demand for solar modules is something that investors will closely monitor in the coming days.
REF: https://www.bseindia.com/xml-data/corpfiling/AttachLive/8E57FACC_AD59_4843_B6AE_5BA861DB622B_122638.pdf
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