Description

Waaree Energies Limited announces OFS of 12.50 lakh equity shares (3% stake) in Indosolar Limited on August 7-8, 2025 to achieve minimum public shareholding compliance.

Summary

Waaree Energies Limited, the promoter of Indosolar Limited, has announced an Offer for Sale (OFS) of 12,50,000 equity shares (face value ₹10 each) representing 3% of the total paid-up equity share capital. The OFS will be conducted on August 7, 2025 for Non-Retail Investors and August 8, 2025 for Retail Investors through the stock exchange mechanism.

Key Points

  • Seller: Waaree Energies Limited (Promoter of Indosolar Limited)
  • Sale Shares: 12,50,000 equity shares of face value ₹10 each
  • Percentage: 3% of total paid-up equity share capital
  • Trading dates: August 7, 2025 (Non-Retail) and August 8, 2025 (Retail)
  • Method: Stock exchange mechanism through separate OFS window
  • Purpose: Achieving minimum public shareholding compliance

Regulatory Changes

The OFS is conducted in accordance with:

  • SEBI Master Circular SEBI/HO/MRD2/PoD-2/CIR/P/2024/00181 dated December 30, 2024
  • BSE Notice 20240701-19 dated July 1, 2024 (Revised Operational Guidelines for OFS)
  • NSE Circular 93/2024 dated July 12, 2024 (Revised operating guidelines)

Compliance Requirements

  • OFS undertaken to achieve public shareholding as per Rule 19A(5) of Securities Contracts (Regulation) Rules, 1957
  • Compliance with Regulation 38 of SEBI (LODR) Regulations, 2015
  • Follows SEBI master circular SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024 for public shareholding criteria

Important Dates

  • August 7, 2025 (T-day): OFS for Non-Retail Investors only
  • August 8, 2025 (T+1 day): OFS for Retail Investors
  • Notice date: August 6, 2025

Impact Assessment

The OFS will increase public shareholding in Indosolar Limited by 3%, helping the company meet minimum public shareholding requirements. This regulatory compliance move may improve stock liquidity and market participation while allowing the promoter Waaree Energies to reduce its stake in accordance with listing regulations.

Impact Justification

Significant OFS of 3% stake in listed company for regulatory compliance affecting public shareholding