Shares of Indosolar Limited jumped 5% to ₹243.84 today after Waaree Energies Limited announced an Offer for Sale (OFS) of up to 10 lakh equity shares (2.4% of Indosolar’s paid-up capital) to comply with SEBI’s minimum public shareholding norms.
The OFS, which will be conducted through a separate window on BSE and NSE, is scheduled for July 10, 2025 for non-retail investors and July 11, 2025 for retail investors.
Key details of the OFS:
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Floor price: ₹265 per share.
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Broker: Antique Stock Broking Limited.
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Allocation: At least 25% of the offer is reserved for mutual funds and insurance companies, and 10% for retail investors.
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Retail discount: None.
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Cancellation clause: The seller reserves the right to cancel the OFS if there are insufficient bids at or above the floor price.
The OFS is aimed at ensuring compliance with SEBI’s rule requiring at least 25% public shareholding in listed companies.
Shares of Indosolar gained sharply as the announcement is expected to enhance liquidity and investor participation in the stock.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Please consult your financial advisor before making investment decisions.
