Description

Waaree Energies Limited announces offer for sale of 12.5 lakh equity shares (3% stake) in Indosolar Limited through stock exchange mechanism.

Summary

Waaree Energies Limited, as the promoter and seller, announces an Offer for Sale (OFS) of 12,50,000 equity shares (face value ₹10 each) of Indosolar Limited, representing 3% of the total paid-up equity share capital. The OFS will be conducted through the stock exchange mechanism on August 7, 2025 (T-day) for Non-Retail Investors and August 8, 2025 (T+1 day) for Retail Investors.

Key Points

  • Sale of 12,50,000 equity shares of Indosolar Limited by promoter Waaree Energies Limited
  • Shares represent 3% of total paid-up equity share capital
  • Face value of ₹10 per equity share
  • OFS conducted through dedicated stock exchange window
  • Separate trading days for different investor categories

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 of OFS)

Compliance Requirements

  • OFS undertaken to achieve public shareholding compliance as per Rule 19A(5) of Securities Contracts (Regulation) Rules, 1957
  • Compliance with Regulation 38 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
  • Notice issued to stock exchanges as per Clause 19.1.5.2 of SEBI OFS Circular

Important Dates

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

Impact Assessment

The OFS will help Indosolar Limited achieve the required public shareholding norms. The sale of 3% stake by the promoter will increase public float and improve compliance with regulatory requirements. The staggered approach with separate days for different investor categories ensures orderly price discovery and market participation.

Impact Justification

Significant stake sale affecting public shareholding but limited to 3% of company shares