Waaree energies to divest indosolar stake via OFS

Waaree Energies Limited, promoter of Indosolar Limited, has announced an offer for sale (OFS) of up to 6,100,000 equity shares, representing 14.66% of Indosolar's total paid-up equity share capital. The OFS, with a floor price of ₹500 per equity share, is scheduled for September 18, 2025 (T-day) for non-retail investors and September 19, 2025 (T+1 day) for retail investors. It will operate on separate windows of the BSE and NSE from 9:15 a.m. to 3:30 p.m. (Indian Standard Time) on both days. This divestment aims to achieve minimum public shareholding as per SEBI regulations.

The allocation methodology prioritizes price and multiple clearing prices, with a minimum of 25% of the offer shares reserved for mutual funds and insurance companies. Non-retail investors can carry forward un-allotted bids to T+1 day. A 10% reservation is set for retail investors, who can bid at a cut-off price determined on T-day or at the floor price if the non-retail category is undersubscribed. Antique Stock Broking Limited has been appointed as the sellers' broker.

The OFS will adhere to SEBI’s comprehensive guidelines for offer for sale through stock exchange mechanisms. The seller reserves the right to cancel the offer under specific circumstances, including insufficient orders from non-retail investors.