Waa Solar board approves draft letter for rights issue

Waa Solar Limited (BSE: 541445) has announced that its Board of Directors approved the draft letter of offer concerning a proposed rights issue of equity shares during a meeting held on February 27, 2025. The decision, made in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, aims to raise capital through the issuance of equity shares to eligible shareholders. The rights issue will involve equity shares with a face value of Rupees 10 each. Specific details regarding the number of securities, amount, and ratio of the rights issue are yet to be determined and will be decided by the Board at a later date. The approval follows a prior Board Meeting on November 22, 2024, where the rights issue was initially discussed. Waa Solar will proceed with the rights issue, which will be offered to eligible shareholders.