Waaree Energies, a promoter of Indosolar Limited, plans to sell 61,00,000 equity shares of Indosolar, representing 14.66% of its issued and paid-up capital. This sale aims to comply with the minimum public shareholding (MPS) requirement. The offer for sale will occur through the stock exchange mechanism on September 18, 2025, for non-retail investors and September 19, 2025, for retail investors.
Sale of Indosolar Shares
Waaree Energies Limited, acting as a promoter of Indosolar Limited, intends to divest a portion of its stake in Indosolar. Specifically, the company will be selling up to 61,00,000 equity shares. This volume constitutes approximately 14.66% of Indosolar’s total issued and paid-up capital.
Reason for the Sale
The primary purpose of this sale is to adhere to regulatory requirements concerning minimum public shareholding (MPS). By reducing its stake, Waaree Energies aims to bring Indosolar into compliance with the stipulated MPS norms.
Offer Details and Timeline
The sale will be executed through an offer for sale (OFS) mechanism available on the BSE and NSE stock exchanges. The OFS is scheduled for:
- September 18, 2025: Exclusively for Non-Retail Investors.
- September 19, 2025: Open to Retail Investors and non-Retail investors carrying forward bids.
Key Offer Parameters
- Face Value: ₹10 per equity share.
- Floor Price: ₹500 per equity share.
Allocation and Bidding
The allocation process will prioritize bids at or above the floor price, with retail investors having the option to bid at a cut-off price. A minimum of 25% of the offered shares are reserved for Mutual Funds and Insurance Companies, subject to valid bids being received. Bids can be modified or cancelled subject to conditions outlined in the notice.
Source: BSE
