The Securities and Exchange Board of India (SEBI) has granted an exemption to the C.T. Doshi Family Trust from making an open offer for acquiring shares in Waaree Energies Limited. The exemption pertains to an indirect acquisition of approximately 18.34% stake through the acquisition of shares in Waaree Sustainable Finance Private Limited. This decision confirms the acquisition is an internal family arrangement aimed at succession planning and does not alter the control or prejudice public shareholders.
SEBI Grants Exemption for Waaree Energies Share Acquisition
The Securities and Exchange Board of India (SEBI) has officially granted an exemption to the C.T. Doshi Family Trust from the open offer obligations under the SAST Regulations, 2011. This exemption is in relation to the proposed direct and indirect acquisition of shares and voting rights in Waaree Energies Limited.
Details of the Acquisition
The exemption allows the C.T. Doshi Family Trust to acquire shares indirectly through its holding in Waaree Sustainable Finance Private Limited (WSFPL). This indirect acquisition involves 1,99,999 equity shares of WSFPL, representing 99.9995% of its paid-up equity share capital. WSFPL currently holds an 18.34% stake in Waaree Energies Limited, meaning the acquisition amounts to an indirect acquisition of approximately 5,27,67,331 equity shares, constituting 18.34% of Waaree Energies Limited.
Rationale and SEBI’s Decision
The acquisition is characterized as a non-commercial, internal family arrangement intended for succession planning and to streamline the welfare of the promoter family. SEBI’s exemption order, dated July 03, 2026, acknowledges that this transaction represents a structural shift in how the promoter group’s interest is held and does not result in any change in the overall control or management of Waaree Energies Limited. The Takeover Panel recommended granting the exemption, noting that there is no ultimate change in control and no apparent prejudice to public shareholders’ interests. The exemption is valid for one year from the order date.
Source: BSE
