Waaree Energies To Offload 1.15% Stake In Indosolar Via Offer For Sale

Waaree Energies Ltd plans to sell up to 476,495 shares — or 1.15% stake — in its subsidiary Indosolar Ltd to meet minimum public shareholding norms, the company said in an exchange filing.

The ₹10 face value shares will be sold at a single clearing price of ₹10 each via the offer for sale (OFS) route through broker Antique Stock Broking Ltd. This is not a public offer, the company clarified.

Non-retail investors can bid on June 5, followed by retail investors on June 6. At least 10% of the offer is reserved for retail investors and a minimum of 25% for mutual funds and insurance firms.

As of March 31, public shareholding in Indosolar stood at 3.85%, with promoters holding 96.15%. SEBI rules mandate listed companies maintain at least 25% public shareholding.

Indosolar manufactures solar photovoltaic cells and modules