Indosolar OFS: Promoter Waaree Energies' Offer To Sell Up To 61 Lakh Shares Opens — Check Details
The offer price for Indosolar OFS is Rs 500. The OFS will open for retail investors on Sept. 19.
The offer for sale of Indosolar Ltd. equity shares, valued at Rs 305 crore, will open on Thursday, Sept. 18. Promoter Waaree Energies Ltd. has offered to sell 61 lakh shares, representing 15% of Indosolar's issued and paid-up capital, to comply with the minimum public shareholding requirements, as per a stock exchange filing.
The divestment will be conducted via the BSE and National Stock Exchange using the offer for sale mechanism.
The equity share has a face value of Rs 10. The offer price for Indosolar OFS is Rs 500, a nearly 4% premium over the last closing price.
Only non-retail investors will be allowed to place their bids on Thursday. Non-retail investors who place bids on Sept. 18 and choose to carry forward their unallotted bids to Friday (Sept. 19) will be permitted to revise their bids on Friday, as per OFS guidelines.
The OFS will open for retail investors on Sept. 19. Retail investors are categorized as those bidding for shares worth not more than Rs 2 lakh. The company has reserved 10% of the offer size for small investors.
Any unsubscribed portion of the non-retail category after allotment shall be eligible for allocation in the retail category and vice versa.
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About Indosolar
Mumbai-based Waaree Energies acquired Indosolar in April 2022 under the Insolvency and Bankruptcy Code (IBC) after the latter's lenders initiated insolvency proceedings. The acquisition aimed to increase Waaree's solar cell manufacturing capacity and has since led to a financial turnaround for Indosolar, which now operates under the name 'WaareeIndo' and has been relisted on the stock exchanges.
Waaree Energies pared 1.15% stake via an OFS in June 2025, taking its holding to 95%.
Indosolar has reported a net profit of Rs 55 crore in the financial year 2025, compared to a loss of Rs 15.44 crore in fiscal 2024.
Shares of Indosolar settled 5% higher at Rs 482.15 on the BSE on Wednesday, compared to a 0.4% rise in the benchmark Sensex.
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