Shares of Waaree Energies continued their upward momentum on Thursday, July 10, gaining nearly 2 percent in intraday trade. The rise marked the second consecutive session of gains for the solar solutions major, driven by the company’s announcement to divest a part of its stake in Indosolar Ltd. The move aims to align with the minimum public shareholding (MPS) requirement mandated by market regulators, further strengthening compliance and transparency.
Waaree Energies to Offload 2.4% Stake in Indosolar
Waaree Energies, the promoter entity of Indosolar Ltd, announced its plan to sell 10 lakh equity shares, equivalent to 2.4 percent of Indosolar’s total issued and paid-up capital. The sale will be conducted via the offer-for-sale (OFS) route on both the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) over two days—July 10 and 11, 2025.
As per Indosolar’s regulatory filing, this OFS is being undertaken to fulfill the requirements under Rule 19A(5) of the Securities Contracts (Regulation) Rules, 1957, and SEBI’s Listing Obligations and Disclosure Requirements (LODR). The floor price for the OFS has been set at ₹265 per share. Notably, no retail discount will be offered.
Promoters currently hold 96.15 percent in Indosolar, while public shareholders own just 3.85 percent as of March 31, 2025. To ensure regulatory compliance, the OFS will help broaden public shareholding. Antique Stock Broking Limited has been appointed as the broker for the offer, with BSE acting as the designated exchange for the transaction.
The bidding window will remain open during normal market hours (9:15 a.m. to 3:30 p.m.) on both days. Of the total shares on offer, 10 percent is reserved for retail investors, while a minimum of 25 percent is earmarked for mutual funds and insurance firms, subject to valid bids. Allocation will follow a price-priority basis, and retail investors may opt to bid at the cut-off price derived from non-retail demand.
Other Developments
Beyond the OFS announcement, investor confidence in Waaree Energies has been bolstered by strong order inflows from international markets. In June 2025, the company announced a fresh order for 599 megawatts (MW) of solar modules in the U.S., adding to an earlier 586 MW order. The cumulative order inflow now stands at over 1,200 MW in Q1 of FY26.
The orders have been secured through Waaree’s U.S.-based subsidiary, Waaree Solar Americas Inc. The company said in a statement, “Waaree Solar Americas Inc secures 599 MW order in the US, surpassing 1,200 MW+ in new deals for FY25-26 Q1, underscoring resilience and growing momentum in the American market.”
Strong Earnings in Q4
Waaree Energies also reported robust financials for the March quarter of FY25. The company’s net profit more than doubled to ₹648.49 crore, driven by higher sales and improved operational efficiency. Revenue for the quarter came in at ₹4,140.92 crore, marking a 37.69 percent year-on-year (YoY) increase.
On a full-year basis, the company reported a PAT of ₹1,932.15 crore for FY25, up 107.08 percent YoY. Annual revenue stood at ₹14,846.06 crore, reflecting a growth of 27.62 percent compared to FY24.
Stock Price Trend
Following the twin triggers of the OFS announcement and robust business updates, Waaree Energies’ stock rose around 2 percent on Thursday, touching an intraday high of ₹3,180.50. This comes after a 5 percent rally in the previous session, taking the two-day gain to nearly 9 percent.
Despite the recent rally, the stock remains about 15 percent below its 52-week high of ₹3,740.75, touched in November 2024. It had hit a 52-week low of ₹1,808.65 in April 2025. Year-to-date, the scrip has gained 10 percent, with five months of positive returns out of seven.
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