Waaree Energies Limited has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
WAAREEINDO · price
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Awaiting price reaction for this filing.
Waaree Energies, the new promoter of Indosolar Limited, has filed a disclosure under Regulation 31(4) of SEBI Takeover Regulations confirming that no encumbrance or pledge was created on its shares during FY 2024-25. Waaree acquired Indosolar through the insolvency resolution process, with NCLT approving its resolution plan on April 21, 2022. Under the plan, Waaree was allotted 4 crore equity shares (96.15% stake) worth Rs. 40 crore, while the old promoters' shares were fully cancelled, reducing total public shareholding to 16,03,691 shares. The erstwhile promoter names (Gupta family and Greenlite Lighting Corporation) still appear in records only because depository records await relisting approval from stock exchanges.
This is a routine annual compliance filing confirming zero pledged shares by the promoter — neutral for stock price. However, it reinforces that Waaree fully controls 96.15% of Indosolar, meaning very low public float and limited liquidity for retail investors.