Shares of Waaree Energies Ltd.-backed Indosolar Ltd., hit upper circuit limit as they surged nearly 5% on Thursday ahead of company's board meeting to be held on Oct. 10.
The board of the company to hold meeting on Oct.10 to consider and approve the standalone unaudited financial results for the quarter ended on Sept. 30, 2025, and to take on record limited review report thereon, according to an exchange filing on Oct. 7.
Indosolar was acquired by Waaree Energies under the insolvency proceedings initiated in October 2018 under the Insolvency and Bankruptcy Code, 2016, due to heavy financial losses.
Indosolar Share Price
Shares of Indosolar rose as much as 4.99% to Rs 712.65 apiece, as of 11:20 a.m. This compares to a 0.41% advance in the NSE Nifty 50. The stock has risen over 300% since June 19, 2025.
WaareeIndo is listed under the ‘T' Group of securities, which means that intraday buying and selling of the stock shall not be allowed and the stock shall trade with an upper circuit for first 10 trading sessions.
Indosolar was acquired by Waaree Energies under the insolvency proceedings initiated in October 2018 under the Insolvency and Bankruptcy Code, 2016, due to heavy financial losses. After its acquisition, the company has reported a net profit of Rs 55 crore in financial year 2025, compared to a loss of Rs 15.44 crore in fiscal 2024.
It is promoted by Waaree Energies, which owned 4 crore equity shares indicating 96.15% stake in the company as of March 31, 2025. However, the clear energy player earlier this month offloaded up to 4.76 lakh equity shares, or 1.15% stake of Indosolar through an offer for sale at a price of Rs 10 each.
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