Waaree Energies to sell up to 61,00,000 equity shares (14.66%) of this multibagger solar stock via offer for sale!
DSIJ Intelligence-1 / 18 Sep 2025/ Categories: Multibaggers, Trending
The stock has given multibagger returns of 192 per cent from its 52-week low of Rs 165.05 per share and a whopping 37,000 per cent in 5 years.
Waaree Energies Limited, the promoter of Indosolar Limited, is selling 61,00,000 equity shares, representing 15 per cent of the company's paid-up capital. This sale is being conducted through an Offer for Sale (OFS) on the BSE and NSE to meet the minimum public shareholding requirement mandated by SEBI. The offer opens on September 18, 2025, for non-retail investors and on September 19, 2025, for retail investors, with a floor price of Rs 500 per share. The designated seller's broker for this transaction is Antique Stock Broking Limited.
The OFS will be held on a separate trading window on both stock exchanges. Bids from non-retail investors will be accepted on September 18 ("T" day), while retail investors can place their bids on September 19 ("T+1" day). Non-retail investors have the option to carry forward their un-allotted bids to the next day and can revise their bids on T+1. A minimum of 25 per cent of the offer shares are reserved for mutual funds and insurance companies, while 10 per cent is reserved for retail investors. Retail investors can place bids at or above the cut-off price, which is determined by the lowest successful bid price from the non-retail category on T Day.
The company has set specific conditions for participation to ensure a smooth process. Non-institutional investors must deposit 100 per cent of the bid value upfront. While institutional investors have the option to bid without an upfront payment, they must confirm their bids through their custodians. Retail investors are required to have 100 per cent of their bid value available in cash. Importantly, if an individual's cumulative bid across both retail and non-retail categories exceeds Rs 200,000, their retail bids will be disqualified. The offer may be cancelled by the seller if non-retail bids are insufficient on T Day.
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About the Company
Indosolar Limited, founded in 2005, is an Indian manufacturer of solar photovoltaic (PV) cells and modules. The company, which is now part of the Waaree Group, specialises in producing high-efficiency N-Type modules from its facility in Greater Noida, Uttar Pradesh. Although a previous manufacturing facility was noted as closed in 2018, the company has since commenced operations with a new 1.3 GW capacity line. Indosolar's product and service portfolio includes solar cells, solar modules and complete solar solutions for residential, commercial and industrial applications, aiming to contribute to India's clean energy transition.
The company has a market cap of over Rs 2,000 crore and has delivered good profit growth of 54 per cent CAGR over the last 5 years. In Q1FY26, the company reported net sales of Rs 195 crore and net profit of Rs 117 crore and in FY25, the company reported net sales of Rs 324 crore and net profit of Rs 55 crore. The stock has given multibagger returns of 192 per cent from its 52-week low of Rs 165.05 per share and a whopping 37,000 per cent in 5 years.
Disclaimer: The article is for informational purposes only and not investment advice.