Shares of Indosolar Limited hit the 5% upper circuit on Thursday, September 18, rising to ₹482.55, after promoter Waaree Energies Limited announced plans to sell up to 61 lakh equity shares, representing 14.66% of the company’s paid-up capital, through an Offer for Sale (OFS).
According to the exchange filing, the OFS will open for non-retail investors on September 18 (T-day) and for retail investors on September 19 (T+1 day). The shares, with a face value of ₹10 each, will be sold through a dedicated trading window on the stock exchanges.
The stake sale is aimed at ensuring compliance with minimum public shareholding norms, as mandated under Rule 19A(5) of the Securities Contracts (Regulation) Rules, 1957 and Regulation 38 of SEBI’s LODR. Antique Stock Broking Limited has been appointed as the seller’s broker.
Indosolar, a manufacturer of photovoltaic cells and modules, operates in India’s fast-growing renewable energy sector. The OFS comes at a time when investor interest in solar energy companies is increasing, supported by policy momentum and global focus on clean energy adoption.
