Announced Thu, 24 Sept, 2026 · 15:49 IST
Waaree Energies board approves merger of Indosolar into itself
WAAREEENER · price
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Price reaction · full curve 14 horizons · vs prior close
-0.8%1-day move
₹2475.00
prior close
₹2494.40
base price
After-mkt
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AI summary
Board approved draft scheme to merge Indosolar Limited into Waaree Energies under Companies Act sections 230-232. Exchange ratio is 1 Waaree share for every 11 Indosolar shares. Both make solar PV modules and are part of the same group. Deal is subject to NCLT, BSE, NSE, shareholder and creditor approvals. Indosolar will be dissolved without winding up. Rationale includes backward integration, removing related-party supply issues, and simpler group structure.
Likely market impact
Strengthens backward integration in solar PV manufacturing. Public shareholding rises marginally from 35.88% to 36.09%. Needs NCLT and other approvals.