The Exchange has received the disclosure under Regulation 10(5) in respect of acquisition under Regulation 10(1)(a) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, ....
WAAREEENER · price
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On the reaction day the stock moved 1.2 pts more than Nifty Midcap 150 and 1.8 pts more 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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Four promoters/promoter group members of Waaree Energies — Hitesh Doshi, Kirit Doshi, Viren Doshi and Pankaj Doshi — are acquiring a total of 5,27,27,955 equity shares (18.35% of total equity) from their immediate relatives (spouses and a son) as gifts. The transfers are between qualifying immediate relatives, qualifying for an exemption from the open offer requirement under Regulation 10(1)(a)(i) of SEBI's Takeover Regulations. No consideration is being paid since the shares are being gifted. After the transaction, the four acquirers' combined holding will rise from 20.83% to 39.19% of the company's share capital, while the transferors' holdings drop to a nominal 10 shares each. The transfer is scheduled to take effect on or after May 30, 2025.
This is a family-level reshuffling of promoter holdings with no change in overall promoter group control and no cash outflow, so it is unlikely to have a material impact on the stock price. It does consolidate ownership more directly into the four Doshi brothers, which may simplify promoter group decision-making going forward.