Waaree Energies promoters have completed an inter se transfer of shares to the C.T. Doshi Family Trust, consolidating control within the promoter group without altering public shareholding.

The trust acquired 1,99,999 equity shares of Waaree Sustainable Finance Private Limited (WSFPL) from promoter Chimanlal Tribhuvandas Doshi on August 6, 2026. This transaction constitutes an indirect acquisition of 5,27,67,331 equity shares, representing 18.34% of the listed entity's total equity share capital.

Transaction Details

The transfer was executed as a gift between qualifying persons under Regulation 10(1)(a)(ii) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The acquirer paid no consideration for the shares.

SEBI granted an exemption from open offer obligations under Regulations 3, 4, and 5 vide Order WTM/KCV/CFD/05/2026-27 dated July 3, 2026. The regulator noted that the transfer serves succession planning purposes for the 91-year-old settlor and does not change beneficial ownership or control.

What the Numbers Show

The aggregate promoter group shareholding remains unchanged at 64.22% post-transaction. The public shareholding stands at 35.78%, ensuring continued compliance with minimum public holding requirements. The restructuring shifts legal title to the trust while keeping beneficial interest within the immediate family members who serve as trustees and beneficiaries.

Waaree Energies has scheduled its 36th Annual General Meeting (AGM) for Thursday, September 24, 2026, at 11:00 am. The meeting will be conducted via Video Conferencing or Other Audio-Visual Means (VC/OAVM). The Board of Directors approved the AGM notice on August 29, 2026. The Integrated Annual Report for FY26 is now available on the company website.

Dividend Recommendation

The Board has recommended a final dividend of ₹2 per equity share on the face value of ₹10. This represents a 20% payout ratio for the financial year ended March 31, 2026.

Dividends will be paid to members whose names appear in the Register of Members or depository records as at the close of business on Friday, September 11, 2026, which is the designated record date. Under the Income Tax Act, dividends are taxable in the hands of the recipient, and Waaree Energies will deduct tax at source (TDS) during payment.

Board Appointments and Re-appointments

The AGM agenda includes special resolutions for board changes:

• Appointment of Independent Director: Shareholders are asked to approve the appointment of Ms. Mona Bhide (DIN: 05203026) as a Non-Executive Independent Director. She was appointed as an Additional Director on August 30, 2026, and will hold office for five years until August 29, 2031. Ms. Bhide is the Managing Partner of Dave & Girish & Co., Advocates, and brings expertise in corporate law, securities law, and structured finance.
• Re-appointment of Whole-Time Director: Mr. Viren Chimanlal Doshi (DIN: 00207121), who retires by rotation, offers himself for re-appointment as a Whole-Time Director. He has been associated with the company since November 2007 and oversees engineering, procurement, and construction of solar projects.

Cost Auditor Ratification

The meeting will also seek ratification of the remuneration of M/s V. J. Talati & Co., Cost Accountants, for FY26-27. The approved remuneration is ₹1,30,000 plus reimbursement of out-of-pocket expenses and GST as applicable.

E-Voting and AGM Logistics

Remote e-voting will be available from 9:00 am on Sunday, September 20, 2026, to 5:00 pm on Wednesday, September 23, 2026. The cut-off date for voting rights is Thursday, September 17, 2026. Members can vote via NSDL, CDSL, or the InstaVote platform provided by MUFG Intime India Private Limited.

The Annual Report and AGM notice are available electronically. Physical shareholders must update their KYC details with the Registrar & Share Transfer Agent (RTA) to receive e-voting credentials. Queries can be directed to the RTA at +91 810 811 6767 or via email at investorrelations@waaree.com .