Waaree Energies gains 3% as it plans to offload 4.76 lakh Indosolar shares via OFS

Renewable energy major Waaree Energies Ltd, the promoter of Indosolar Ltd, will offload 4,76,495 equity shares, or 1.15 per cent of Indosolar’s paid-up equity capital, through an offer for sale (OFS) on June 5 and 6, 2025. The move is aimed at aligning with SEBI's minimum public shareholding (MPS) norms, ensuring better float and compliance with listing regulations.

OFS opens for this date  

The OFS will take place on the stock exchange mechanism through a separate window on the BSE and NSE, with the Bombay Stock Exchange acting as the designated stock exchange for the transaction.

• Non-retail investors can place their bids on June 5 (T day). Unallotted bids may be carried forward to the next day.

• Retail investors, along with eligible carry-forward bidders, can place or revise bids on June 6 (T+1 day).

Floor price

The floor price for the OFS has been set at Rs 10 per share, and no discount has been offered to retail investors. Allocation will be determined using the proportionate method at a single clearing price, ensuring a fair and transparent process.

As per regulatory norms:

• A minimum of 10 per cent of the offer is reserved for retail investors.

• 25 per cent is reserved for mutual funds and insurance companies.

Strategy 

Waaree Energies' decision to offload part of its stake is strategic and driven by compliance with SEBI’s mandate for a minimum 25 per cent public shareholding in listed companies. The move also aligns with Waaree’s broader corporate governance goals and investor diversification plans.

Market Outlook

Waaree Energies has been making headlines with major contract wins and expansions. Its wholly-owned US subsidiary, Waaree Solar Americas, bagged a $176 million (approx. Rs 1,470 crore) order for the supply of 586 MW solar modules to a leading US-based utility-scale solar project developer. The supply is expected to commence in FY27, solidifying Waaree’s global footprint in the clean energy sector.

What’s next for Indosolar shareholders?

Investors and traders keen on Indosolar stock will closely track the OFS subscription data, pricing trends, and institutional participation levels. With clean energy stocks in focus and Indosolar being a key player in India’s solar manufacturing ecosystem, the offer could witness healthy demand from both retail and institutional categories.

This OFS is not just a compliance step, it could also act as a litmus test for investor sentiment in mid-cap renewable energy plays amid the ongoing green transition buzz.