Indosolar Limited has informed the Exchange about General Updates
WAAREEINDO · price
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Awaiting price reaction for this filing.
Indosolar Limited's shares will resume trading on NSE and BSE from June 19, 2025, following the completion of its Resolution Plan under the Insolvency and Bankruptcy Code, 2016. The NCLT approved the plan on April 21, 2022, which involved 100% wipeout of the old promoters' holdings, a 99% cut in public shareholding (16.03 crore shares reduced to 16.03 lakh in a 1:100 ratio), and the allotment of 4 crore new shares to a Resolution Applicant (RA), now the new promoter. The RA sold 4.76 lakh shares via OFS to meet minimum public shareholding rules, leaving it with 3.95 crore shares (about 95% of the company). Total outstanding shares post-restructuring stand at 4.16 crore of Rs. 10 face value, with the promoter's stake locked in until June 30, 2026.
This is effectively a relisting event for retail investors — Indosolar is re-entering the market under a new promoter (Waaree group, based on the WAAREEINDO ticker and company email domain) after exiting the insolvency process. The 99% capital reduction has wiped out most of the value for original public shareholders, and trading will be restricted to the Trade-for-Trade (T Group) segment, meaning no intraday selling is allowed. Long-term prospects now depend entirely on the new promoter's plans for the solar manufacturing business.