Waaree Promoter To Acquire Shares From Other Family Members Through Gift Transfer
By Ankur Chandra | Published at: Jun 16, 2025 04:59 PM IST
Mumbai, June 16, 2025 – In a significant promoter group transaction, Chimanlal Tribhuvandas Doshi, member of the promoter group of Waaree Energies Limited (BSE: 544277, NSE: WAAREEENER), has announced to acquire 13,19,63,212 equity shares of the company constituting 45.93% of total equity capital, by way of an inter-se gift transfer from his immediate relatives, who are also part of the promoter group.
The acquisition, which is exempt under Regulation 10(1)(a)(i) of the SEBI (SAST) Regulations, 2011, is being executed as part of a succession planning strategy within the promoter family. The shares will be transferred on June 20, 2025, four working days after the SEBI intimation. The transfer will be without consideration as a gift, and no change in public shareholding or control structure is anticipated.
Shareholding Transfer Summary
| Transferor | Relationship to Acquirer | No. of Shares Transferred |
|---|---|---|
| Hitesh Chimanlal Doshi | Son | 3,28,92,381 |
| Kirit Chimanlal Doshi | Son | 3,26,25,625 |
| Viren Chimanlal Doshi | Son | 3,37,30,044 |
| Pankaj Chimanlal Doshi | Son | 3,27,15,162 |
| Total | — | 13,19,63,212 |
Post-Acquisition Shareholding Structure
| Shareholder | Shares Held Post-Transfer | % of Equity Capital |
|---|---|---|
| Chimanlal Tribhuvandas Doshi (Acquirer) | 13,19,63,212 | 45.93% |
| Transferors Combined | 0 | 0.00% |
The company has confirmed that the date of acquisition is set for June 20, 2025, which is four working days after the intimation date. No consideration is being paid for the shares, and the transaction will not trigger an open offer obligation under SEBI norms due to its qualification under the gift clause exemption.
Regulatory and Legal Context
This inter-se transfer qualifies for exemption from open offer obligations under:
- Regulation 10(1)(a)(i) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 — which allows gift transfers among qualifying persons within the promoter group.
The company also confirmed that disclosures have been made in line with Regulation 10(5), and necessary compliance under Chapter V of the regulations has been ensured.
About the Company
Waaree Energies Limited is a listed solar energy solutions provider with manufacturing, EPC, and project development capabilities. The company is listed on both BSE and NSE and has seen increasing promoter consolidation in recent months amid internal restructuring and succession planning initiatives.
REF: https://nsearchives.nseindia.com/corporate/team_sandeshc_16062025105641_disc.pdf
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