Intimation of In-principle Approval of Right Issue under Regulation 30 of the SEBI (LODR) Regulations, 2015 is attached herewith.
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Awaiting price reaction for this filing.
Waa Solar Ltd has received in-principle approval from BSE (dated May 15, 2025) for its proposed Rights Issue of fully paid-up equity shares. This filing is a procedural intimation confirming the stock exchange's clearance, not the launch of the issue itself. The rights issue will be conducted under Section 62(1)(a) of the Companies Act, 2013 and SEBI ICDR Regulations. Key details such as the issue size, price, ratio, and record date have NOT been disclosed yet — the company must fix a record date and intimate the rights issue price to the exchange at least 3 working days in advance. The actual letter of offer is yet to be dispatched to shareholders.
Shareholders should watch for the upcoming record date announcement and letter of offer, which will reveal the issue price, ratio, and their entitlement. A rights issue, if priced attractively, lets existing shareholders buy more shares at a discount, but it also dilutes holdings if not subscribed.