Chimanlal Tribhuvandas Doshi has Submitted to the Exchange a copy of Disclosure under Regulation 10 (5) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
WAAREEENER · price
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On the reaction day the stock moved 1.3 pts less than Nifty Midcap 150 and 0.6 pts less than its Other 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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Chimanlal Tribhuvandas Doshi, a member of the promoter group, intends to acquire 99.99% equity shares of Waaree Sustainable Finance Private Limited (WSFPL) from his four sons — Pankaj, Kirit, Hitesh, and Viren Chimanlal Doshi — by way of a gift (inter-se transfer). WSFPL currently holds 18.37% stake in Waaree Energies, so the transaction results in an indirect acquisition of 18.37% of Waaree Energies by the acquirer. No Waaree Energies shares are being bought or sold in the market, and there is no change in the overall promoter group shareholding pattern of the listed company. The transfer qualifies for exemption from an open offer under Regulation 10(1)(a)(i) of the Takeover Regulations as it is an inter-se transfer among immediate relatives. The proposed effective date of acquisition is on or after June 11, 2025, and the rationale given is family welfare and succession planning.
This is a pure internal family restructuring within the promoter group — no cash transaction, no change in total promoter shareholding of Waaree Energies, and no open offer obligation. Public shareholders and the stock price are not materially affected; ownership economics of Waaree Energies remain the same at the consolidated promoter level.