OFS: Waaree Energies will reduce stake in Indosolar, will sell about 5 lakh shares

News Topical, Digital Desk : Clean energy sector company Waaree Energies Ltd is going to reduce its stake in Indosolar. The company is the promoter company of Indosolar Ltd. The company has informed the stock market about its offer for sale plan on Wednesday. The company said that it will sell 4,76,495 equity shares of Indosolar through Offer for Sale (OFS) on 5 and 6 June 2025. This number is 1.15 percent of the company. The company is taking this step to meet the minimum public share holding rules set by SEBI.
 

The OFS process will be done on the stock exchange mechanism through separate windows of Bombay Stock Exchange (BSE) and National Stock Exchange (NSE). The floor price of the share has been fixed at Rs 10 per share and no discount will be given to retail investors. Under the OFS, non-retail investors will be able to place bids on June 5, and those whose bids are not allotted can be carried forward till the next day. On June 6, retail investors and eligible carry-forward investors will be able to place or modify their bids.

The allocation process will be done through a proportional method at a single clearing price. A minimum of 10 per cent of this offer will be reserved for retail investors and 25 per cent for mutual funds and insurance companies. Antique Stock Broking Limited has been appointed as the seller's broker for the OFS. Just last month, Waaree Solar Americas, a wholly-owned subsidiary of Waaree Energies, received an order of $176 million to supply 586 MW of solar modules in the US. This order has been received from a large company that develops and operates utility-scale solar and energy storage projects in the US. This supply is expected to start from the financial year 2027.

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