C.T. Doshi Family Trust has indirectly acquired a substantial 18.34% stake in Waaree Energies Limited. This was achieved through the acquisition of 1,99,999 equity shares (99.9995% of paid-up capital) of Waaree Sustainable Finance Private Limited (WSFPL) from Mr. Chimanlal Tribhuvandas Doshi via a gift transfer. The transaction, effective August 06, 2026, is aimed at succession planning and wealth transfer within the family. SEBI has granted an exemption from open offer obligations for this acquisition.
Family Trust Secures Waaree Energies Stake
The C.T. Doshi Family Trust, acting as an acquirer and promoter of the Target Company, has completed an indirect acquisition of a significant stake in Waaree Energies Limited. The transaction involved the acquisition of 1,99,999 equity shares of Waaree Sustainable Finance Private Limited (WSFPL), representing 99.9995% of WSFPL’s paid-up equity share capital. This acquisition was executed through an inter se transfer by way of gift from Mr. Chimanlal Tribhuvandas Doshi, effective August 06, 2026.
Indirect Stake Details
WSFPL, a private limited company and a promoter of Waaree Energies, holds 5,27,67,331 equity shares in Waaree Energies, which constitutes 18.34% of its total equity share capital. Consequently, the acquisition of WSFPL shares by the C.T. Doshi Family Trust represents an indirect acquisition of the same number of shares, equating to an 18.34% indirect equity interest in Waaree Energies.
Rationale and Regulatory Exemption
The stated purpose of this transfer is to facilitate succession planning and ensure a smooth intergenerational transfer of wealth, thereby promoting family welfare. Importantly, this acquisition has been granted an exemption from open offer obligations under Regulations 3, 4, and 5 of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The exemption was provided vide SEBI Exemption Order dated July 03, 2026, under Regulation 11(5).
Shareholding Post-Transaction
Following the transaction, the C.T. Doshi Family Trust maintains its shareholding of 12,69,82,903 equity shares, representing 44.14% of the total equity share capital of Waaree Energies. Mr. Chimanlal Tribhuvandas Doshi’s shareholding remains at 46,90,309 equity shares, representing 1.63% of the total equity share capital.
The C.T. Doshi Family Trust has submitted the required disclosure report under Regulation 10(6) of the Takeover Regulations, with prior intimation having been provided on July 09, 2026.
Source: BSE
