Indosolar OFS: Waaree Energies and Indosolar stocks will be in focus in Thursday’s trading session as the former looks to offload stake in the latter via offer for sale to comply with minimum public shareholding norms.
According to a filing shared with the exchanges, Waaree Energies, a promoter of the company, is looking to sell 61 lakh shares of the company, representing 14.66% of the total paid-up equity share capital of the company.
The price for the OFS is ₹500, which is at a premium to the last traded price of ₹482.15 on the BSE. According to exchange data, trading in the shares of Indosolar is restricted, and the stock last traded on September 15, ending at 5% upper price band.
Meanwhile, Waaree Energies stock settled flat at ₹3603.70 today on the BSE.
Indosolar OFS details
On Thursday, September 18, Indosolar OFS will open only for non-retail investors. The offer shall take place during trading hours on a separate window of the stock exchange, commencing at 9:15 a.m. and closing at 3:30 p.m.
On the T-Day, the non-retail investors may indicate their willingness to carry forward their un-allotted bids to T+1 Day for allocation to them in the unsubscribed portion of the retail category.
Meanwhile, only retail investors shall be allowed to place their bids on T+1 day, i.e., September 19, 2025. Further, those non-retail investors who have placed their bids on T day and have chosen to carry forward their unallotted bids to T+1 day shall be allowed to revise their bids on T+1 day.
According to the June quarter shareholding pattern, Waaree Energies held 3,95,23,505 shares of Indosolar, representing a 95% stake. Meanwhile, retail investors hold another 4.11% stake in the company, and the remaining is with banks and HNIs, among others.
Indosolar is an Indian manufacturer of solar photovoltaic cells. The company manufactures poly-crystalline solar photovoltaic (SPV) cells from silicon wafers utilising crystalline silicon SPV cell technology for converting sunlight directly into electricity.
Indosolar was acquired by Waaree Energies through the Corporate Insolvency Resolution Process (CIRP), which commenced in 2019. At the time, Indosolar had outstanding debts totalling ₹2,138 crore.
After being suspended for trading in 2022, it was only in June 2025 that Indosolar shares were relisted.
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