Waaree Energies C.T. Doshi Family Trust acquires 12.69 Cr shares via gift
Waaree Energies Limited saw a major restructuring within its promoter group as Mr. Chimanlal Tribhuvandas Doshi gifted 12,69,82,903 equity shares, representing a 44.14% stake, to the C.T. Doshi Family Trust on July 16, 2026. The transaction, aimed at succession planning, was exempted by SEBI from open offer obligations as it does not change control or affect public shareholders. Consequently, Mr. Doshi's direct holding reduced to 1.63%, while the Trust now holds 44.14% of the equity share capital.
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Waaree Energies Limited has executed a significant restructuring within its promoter group, following the transfer of 12,69,82,903 equity shares, representing a 44.14% stake, from Mr. Chimanlal Tribhuvandas Doshi to the C.T. Doshi Family Trust. The transaction, executed as an inter se transfer by way of gift on July 16, 2026, aims to streamline succession planning and promote family welfare. This shift does not alter the aggregate promoter group holding or affect the interests of public shareholders.
The transfer was sanctioned under an exemption granted by the Securities and Exchange Board of India (SEBI) via order WTM/KCV/CFD/05/2026-27 dated July 03, 2026. This order relieved the acquirer from the mandatory open offer obligations typically required under Regulations 3, 4, and 5 of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The exemption was granted considering the transaction is an internal family arrangement with no change in control or management of the target company.
Shareholding Pattern
The off-market gift resulted in a material realignment of holdings among promoter entities. Mr. Chimanlal Tribhuvandas Doshi's direct equity stake reduced substantially, while the C.T. Doshi Family Trust emerged as a major holder. The total equity share capital of the company remains unchanged at Rs. 2,87,65,13,350, comprising 28,76,51,335 equity shares of Rs. 10 each.
| Entity | Role | Pre-Transaction Shares | Pre-Transaction % | Post-Transaction Shares | Post-Transaction % |
|---|---|---|---|---|---|
| C.T. Doshi Family Trust | Acquirer | - | - | 12,69,82,903 | 44.14 |
| Mr. Chimanlal Tribhuvandas Doshi | Transferor | 13,16,73,212 | 45.78 | 46,90,309 | 1.63 |
Regulatory Compliance
Prior intimation regarding the proposed acquisition was submitted to the stock exchanges on July 09, 2026, in compliance with Regulation 10(5) of the Takeover Regulations. The disclosure was filed by Hitesh Chimanlal Doshi, Power of Attorney Holder and Managing Trustee of the C.T. Doshi Family Trust. The filing confirms that the trustees and beneficiaries of the trust are immediate relatives or lineal descendants of the promoter, ensuring beneficial ownership remains within the promoter group.
Historical Stock Returns for Waaree Energies
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -1.28% | -4.36% | -11.89% | +11.50% | -12.60% | +15.32% |
How will the consolidation of shares into the C.T. Doshi Family Trust influence future strategic decision-making and governance at Waaree Energies?
Does this restructuring indicate the beginning of a broader succession plan, and will we see similar transfers involving other key family members?
How might the market interpret this shift in ownership structure regarding the long-term stability of the promoter group's control?
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