Waaree Energies shares trade 3% lower after firm launches OFS to sell stake in Indosolar; details here

“…we would like to inform you that Waaree Energies Limited, being the Promoter of Indosolar Limited, proposes to sell 61,00,000 equity shares of Indosolar Limited (representing 14.66% of its issued and paid-up capital) in order to comply with the minimum public shareholding (“MPS”) requirement,” Waaree Energies said in a regulatory filing.

The proposed sale is being undertaken at BSE and NSE through the offer for sale mechanism of stock exchanges.

The OFS will be conducted on the stock exchanges through a separate trading window on September 18, 2025 (T Day) and September 19, 2025 (T+1 Day), between 9:15 AM and 3:30 PM on both days, exchange data showed. The floor price for the offer has been set at ₹500 per equity share.

On Thursday, only non-retail investors will be allowed to place their bids, and they can also choose to carry forward their unallotted bids to T+1 Day for potential allocation from the unsubscribed portion of the retail category.

Further, on September 19, the OFS window will be open exclusively for retail investors, along with non-retail investors who carried forward their bids from T Day. These investors will also have the option to revise their bids on T+1 Day in line with OFS guidelines.

At 1:30 PM, shares of Waaree Energies were trading at ₹3,522.90 apiece on NSE, declining 2.25%.

Over the last five trading days, shares of the firm have fallen 7.6%, while for a month’s period, the stock gained 18%.

Over the last six months, Waaree Energies shares have surged more than 61%, while year-to-date, they have zoomed 23%. As of September 18, the company’s market capitalisation stood at ₹1.01 lakh crore.

Shares of the bank had touched their one-year high of ₹3,865 apiece on September 12, 2025, while their 52-week low of ₹1,863 was hit on April 7, 2025.

The solar module manufacturer reported an 89% year-on-year (YoY) surge in its net profit to ₹745 crore in the June quarter of FY26, compared to ₹394 crore in the corresponding period last year.

Its revenue from operations rose 30% YoY to ₹4,426 crore during the quarter under review, as against ₹3,409 crore in the first quarter of FY25.

At an operational level, its EBITDA (earnings before interest, tax, depreciation, and amortisation) stood at ₹997 crore in Q1FY26, marking a jump of 80% YoY. Its EBITDA grew by 630 basis points YoY to 22.53%.