Waaree Energies to Sell 61 Lakh Indosolar Shares Through OFS at a Price of ₹500

Mumbai, 18 September 2025: Waaree Energies Ltd, which owns Indosolar Ltd, has said that it will sell 61,00,000 equity shares, or 14.66% of Indosolar’s paid-up equity capital, through an Offer for Sale (OFS). The sale will take place over two days on the BSE and NSE trading platforms, with a minimum price of ₹500 per share.

Waaree Energies is a leading provider of renewable energy solutions. Its main office is in Mumbai, and it is a major player in the manufacturing of solar modules and EPC (Engineering, Procurement, and Construction) services. It is also the largest shareholder of Indosolar Ltd., a company that makes solar photovoltaic cells. The OFS is part of the company’s larger plan to sustain its leadership in the solar energy sector while balancing promoter holding and following regulatory compliance.

Indosolar Limited OFS Plan to Be Valued at ₹3050 Crore 

Non-retail investors can start bidding on the Offer for Sale on September 18, 2025 (T Day), and retail investors can start bidding on September 19, 2025 (T+1 Day), with carry-forward bids being allowed. At least 25% of the offer shares are set aside for mutual funds and insurance companies, which will make it easier for more institutions to participate.

• Total number of shares available: 61,00,000 equity shares
• Stake diluted: 14.66%
• Minimum price: ₹500 per share
• Retail reservation: 10% (no discount)
• Hours for bidding: 9:15 AM to 3:30 PM

Based on the floor price and the number of shares on offer, this move by Waaree Energies is valued at over ₹3050 crore.

Indosolar Stake Sale Due to the Need for Public Shareholding Compliance

Waaree Energies’ plan to bring Indosolar’s public shareholding in line with regulatory requirements has led to the OFS. Waaree Energies is still the biggest shareholder in Indosolar; however, the divestment will let more people participate. The allocation will be based on price-priority, with retail investors allowed to bid at the cut-off price.

Indosolar is likely to have better liquidity and compliance alignment by opening up its shareholder base. Waaree Energies, on the other hand, is likely to have fewer promoters.

Share Price at ₹3,597.20 after the OFS Announcement

After the OFS announcement, Waaree Energies Ltd (NSE: WAAREEENER) share price fell in early trading on September 18, 2025. The stock was trading at ₹3,597.20 at 9:32 AM IST, which was ₹6.70 (0.19%) less than the previous close. The shares opened at ₹3,614.00, reached an intraday high of ₹3,645.00, and a low of ₹3,586.00 during the session. The company’s market value was ₹1.03 lakh crore, and its P/E ratio was 45.52. The stock price ranged from ₹1,863.00 to ₹3,865.00 over the past 52 weeks.

Waaree Energies’ decision to sell a 14.66% stake in Indosolar through an OFS demonstrates its efforts to adhere to regulatory requirements and increase the public float. The move also means that more institutional and retail investors will be able to buy shares in Indosolar, which will help the company strengthen its market presence, while permitting Waaree Energies to streamline its promoter holding.

REF: https://nsearchives.nseindia.com/corporate/WAAREE_17092025182620_OFSIntimation_signed.pdf

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