Indosolar board approves merger with Waaree Energies

Nclt Scheme FiledStrategic Transactions View source PDF Explain this filing

WAAREEINDO · price

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Price reactionminutes from the announcement price · days from the prior close

-5.1%Reaction day

₹255.95

prior close

₹242.95

announcement price

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Nifty Microcap 250market · in no size index; the smallest one is used-1.5%-3.6% vs market

Heavy Electrical Equipment peers, median of 34sector-1.6%-3.4% vs sector

On the reaction day the stock moved 3.6 pts less than Nifty Microcap 250 and 3.4 pts less than its Heavy Electrical Equipment peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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Reaction day

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Next day

-9.8-1.2-8.6-1.0-8.8

-14.3-2.8-11.5-2.7-11.6

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UpDownMarket · Nifty Microcap 250Sector · Heavy Electrical Equipment peers, median of 34Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

Indosolar board approved a draft scheme of amalgamation with Waaree Energies under Sections 230 to 232 of the Companies Act. Share exchange ratio: 1 Waaree share for every 11 Indosolar shares. Both make solar PV modules; Waaree already holds 74.93 percent in Indosolar. Indosolar assets 404.92 cr, turnover 68.36 cr vs Waaree assets 23,798.16 cr, turnover 6,221.67 cr. Indosolar will be dissolved upon effectiveness. Subject to NCLT, SEBI and stock exchange approvals.

Likely market impact

Indosolar public shareholders will receive Waaree shares, gaining access to a larger, more liquid stock. Deal still needs NCLT and other approvals.