Waaree Energies Ltd, the promoter of solar module manufacturer Indosolar Ltd, has announced an offer for sale (OFS) of 476,495 equity shares of Indosolar Ltd, each with a face value of INR 10. This represents 1.15% of the company’s issued and paid-up capital. The OFS is being undertaken to comply with the minimum public shareholding requirements.
The proposed sale will be conducted on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) via the stock exchange mechanism. The floor price for the OFS has been set at INR 10 per equity share.
Bidding for non-retail investors will open on June 5, 2025. Retail investors can participate on June 6, 2025. Non-retail investors who place bids on June 5 will have the option to carry forward their unallotted bids to June 6 for allocation in the unsubscribed portion of the retail category.
A minimum of 25% of the offer shares will be reserved for mutual funds and insurance companies, subject to receipt of valid bids at the floor price. In case of undersubscription by these institutions, the unsubscribed portion will be available to other bidders.
Individual investors shall have the option to bid in the retail category and/or the non-retail category. However, if the cumulative bid value by an individual investor across the retail category and the non-retail category exceeds INR 200,000, the bids in the retail category will become ineligible.
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