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.

Waaree Energies Limited has announced that its wholly owned subsidiary in Singapore, Rasila International Pte Ltd, has been struck off from the Accounting & Corporate Regulatory Authority (ACRA). The strike-off became effective on August 9, 2025, as per the notification received by the company on September 15, 2025.

Key Details of the Strike-Off

• Effective Date: August 9, 2025
• Notification Received: September 15, 2025
• Regulatory Authority: Accounting & Corporate Regulatory Authority, Singapore

Impact on Waaree Energies

As a result of this development, Rasila International Pte Ltd has ceased to be a wholly owned subsidiary of Waaree Energies Limited. The company disclosed this information in compliance with Regulation 30 of the Securities and Exchange Board of India (SEBI) Listing Obligations and Disclosure Requirements Regulations, 2015.

Financial Implications

According to the company's disclosure:

• Rasila International Pte Ltd was described as a dormant company.
• The subsidiary had no turnover, revenue, income, or net worth in the financial year 2024-25.
• The strike-off was not part of any sale transaction, and no consideration was received.

Regulatory Compliance

Waaree Energies Limited has duly informed both the BSE Limited and the National Stock Exchange of India Limited about this development. The company's Company Secretary & Compliance Officer, Rajesh Ghanshyam Gaur, signed the official communication to the stock exchanges.

This corporate action appears to be a streamlining of Waaree Energies' corporate structure, removing an inactive subsidiary from its books. As the struck-off entity was dormant and had no financial activity in the previous fiscal year, the immediate impact on Waaree Energies' operations and financials is likely to be minimal.