Waaree Energies To Offload 14.66% Stake In Indosolar Through OFS

Waaree Energies, the promoter of Indosolar Limited, has announced plans to sell up to 61 lakh equity shares, representing 14.66% of the solar equipment maker’s paid-up capital. The sale will take place through an Offer for Sale (OFS) mechanism on the stock exchanges. This move is in line with regulatory requirements to achieve minimum public shareholding levels.

Timeline of the Offer for Sale

According to the company’s filing with the BSE and NSE, the OFS will open for non-retail investors on September 18, 2025 (T-day). Retail investors will have access a day later, on September 19, 2025 (T+1 day). The shares, each carrying a face value of ₹10, will be made available via a separate trading window provided by the stock exchanges.

Compliance With Regulatory Norms

The share sale is being conducted to comply with minimum public shareholding norms. These requirements are outlined under Rule 19A(5) of the Securities Contracts (Regulation) Rules, 1957, as well as Regulation 38 of SEBI’s Listing Obligations and Disclosure Requirements. The OFS route is one of the methods permitted by SEBI for companies and promoters to meet this obligation.

Broker Appointment for the Sale

Antique Stock Broking Limited has been appointed as the seller’s broker for the transaction. Acting as the intermediary, the broker will manage the sale process to ensure compliance and transparency. This appointment highlights the structured nature of the OFS mechanism and its reliance on authorised entities.

Indosolar’s Position in the Renewable Sector

Indosolar is a manufacturer of photovoltaic cells and modules, playing a role in India’s fast-expanding renewable energy industry. The company operates in a sector that has been receiving significant policy support and investor interest, driven by the country’s clean energy ambitions. The OFS, therefore, comes at a time when solar companies are drawing strong market attention.

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Conclusion

By undertaking the OFS, Waaree Energies not only meets SEBI’s regulatory requirements but also potentially broadens Indosolar’s shareholder base. As India continues to accelerate its renewable energy transition, the share sale positions Indosolar to benefit from greater investor participation in a sector of growing strategic importance.

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