Waaree Solar Americas, a wholly owned subsidiary of Waaree Energies , has secured an order for 125 MW of high-efficiency HJT (Heterojunction Technology) solar modules from a renowned international customer. The order, received on July 21, 2026, involves a one-time supply for a client that owns and manages utility-scale renewable power projects. The modules are scheduled for delivery in Financial Year 2026-27, strengthening the company's execution pipeline in the international market.

Order Details

The transaction is not a related party transaction, and the promoters or group companies of Waaree Energies have no interest in the entity awarding the order. The supply agreement specifically targets the delivery of HJT solar modules, which are known for higher efficiency compared to standard modules.

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.

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.