Waaree Energies Limited , a prominent player in the energy sector, has announced a strategic move to expand its presence across the energy value chain. The company's wholly-owned subsidiary, Waaree Power Private Limited, is set to acquire a 76% stake in Racemosa Energy (India) Private Limited, a manufacturer of smart meters.

Acquisition Details

The Board of Directors of Waaree Energies Limited approved the acquisition during a meeting held on September 18. The deal, valued at approximately ₹53.00 crores, will be executed through cash consideration. Upon completion of the transaction, Racemosa Energy will become a step-down subsidiary of Waaree Energies Limited.

About Racemosa Energy

Racemosa Energy (India) Private Limited, incorporated on May 21, 2018, in Maharashtra, specializes in the manufacturing of smart meters. The acquisition of this company aligns with Waaree's strategy to integrate smart meter technology into its operations and strengthen its position in the energy sector.

Strategic Implications

The acquisition is expected to have significant implications for Waaree Energies:

1. Expansion of Product Portfolio: By acquiring a smart meter manufacturer, Waaree is diversifying its product offerings in the energy sector.
2. Value Chain Integration: The move is aimed at strengthening Waaree's presence across the energy value chain, potentially leading to improved operational efficiencies.
3. Technological Enhancement: The integration of smart meter technology could enhance Waaree's capabilities in energy management and distribution solutions.

Transaction Timeline and Conditions

The transaction is subject to several conditions:

• Execution of definitive agreements
• Fulfillment of customary closing conditions
• Obtaining necessary regulatory approvals

The indicative time period for the completion of the acquisition is set for the fiscal year 2025-26, with provisions for extension if agreed upon by both parties.

Financial and Regulatory Aspects

• The acquisition is not classified as a related party transaction.
• No specific governmental or regulatory approvals have been mentioned as required for the acquisition.

Market Impact

This strategic move by Waaree Energies Limited demonstrates the company's commitment to growth and technological advancement in the energy sector. The acquisition of Racemosa Energy could potentially position Waaree as a more comprehensive solution provider in the energy market, especially in the growing field of smart energy management.

As the energy landscape continues to evolve with a focus on smart and efficient technologies, Waaree's latest acquisition appears to be a step towards future-proofing its business model and expanding its market reach.

Waaree Energies Limited, a prominent player in India's renewable energy sector, has announced plans to sell a significant portion of its stake in Indosolar Limited through an Offer for Sale (OFS) mechanism. The move comes as part of efforts to comply with regulatory requirements for minimum public shareholding.

Offer Details

Waaree Energies, the promoter of Indosolar Limited, intends to sell 61,00,000 equity shares, representing 14.66% of Indosolar's total paid-up equity share capital. The OFS is scheduled to take place over two days:

• September 18, 2025: Open for non-retail investors
• September 19, 2025: Open for retail investors and non-retail investors with unsubscribed bids from the previous day

Pricing and Allocation

The floor price for the offer has been set at ₹500.00 per equity share. The allocation will be conducted on a price priority basis at multiple clearing prices, in accordance with the SEBI OFS guidelines. Retail investors, defined as individual investors bidding for shares valued at ₹200,000.00 or less, will have the option to bid at the cut-off price.

Key Points

• The OFS aims to achieve the minimum public shareholding as prescribed under regulatory norms.
• Antique Stock Broking Limited has been appointed as the seller's broker for the transaction.
• A minimum of 25% of the offer shares will be reserved for mutual funds and insurance companies, subject to valid bids at or above the floor price.
• 10% of the offer shares will be reserved for retail investors.

Market Impact

The sale is expected to increase the public float of Indosolar Limited, potentially improving liquidity in the stock. Investors and market participants will be closely watching the demand for these shares, as it may provide insights into the market's perception of Indosolar's value and the broader solar energy sector in India.

Company Background

Indosolar Limited is engaged in the manufacturing of photovoltaic cells and modules, playing a crucial role in India's growing renewable energy landscape. The company's operations contribute to the country's solar power capabilities and align with the national push towards sustainable energy solutions.

This strategic move by Waaree Energies underscores the dynamic nature of India's renewable energy sector and the ongoing efforts to adhere to regulatory standards while potentially broadening the investor base for companies in this space.