Waaree Energies share price rises as renewable energy firm to sell 4.76 lakh Indosolar shares through OFS

The stock rose 0.11% to ₹2,884 apiece on the National Stock Exchange (NSE) at 1:35 pm.

Waaree Energies is the promoter of Indosolar, and this step is being taken to adhere to the minimum public shareholding requirement. The proposed sale is being undertaken at NSE and BSE via the offer-for-sale (OFS) mechanism.

In an exchange filing, Waaree Energies said, "We hereby notify you that the Seller (Waaree Energies) proposes to sell up to 4,76,495 equity shares of face value ₹10 each of Indosolar (representing 1.15% of the total paid-up equity share capital of the Company) on June 5, 2025 (T- day) (for Non-Retail Investors only) and on June 6, 2025 (T+1 Day) (for retail Investors), hereinafter be referred to as "Sale Shares" (OFS)."

All the eligible bidders will be allotted OFS equity shares at the floor price of ₹10 per share only, the company added.

Waaree Energies is among the leading renewable energy companies in India, having an installed capacity of 15 gigawatts (GW) for solar photovoltaic modules globally (including 1.3 GW of Indosolar and 1.6 GW in Texas, USA).

The firm also has a 1.4 GW cell manufacturing unit with an expansion capacity of 5.4 GW.

Last week, the clean energy player had bagged USD 176 million from a US-based independent power producer for the supply of 586 MW solar modules.

Waaree Solar Americas' facility in Texas will produce the modules, which are scheduled for delivery in the financial year 2026–27 across four projects, the firm said.

"This agreement reflects Waaree’s unwavering commitment to building a resilient, robust, and technologically advanced clean energy supply chain in the US," said Sunil Rathi, President, Waaree Solar Americas.