Shares of  rallied as much as 3.16% to an intraday high of Rs 2,973.05 on the BSE on Thursday after the company announced plans to sell 4,76,495 equity shares of Indosolar Ltd, representing 1.15% of the latter’s total paid-up equity capital, through an offer for sale (OFS) to comply with minimum  .

In a regulatory filing, Waaree Energies stated:“We hereby notify you that the Seller (Waaree Energies) proposes to sell up to 4,76,495 equity shares of face value Rs 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, and on June 6, 2025 (T+1 day) for Retail Investors. These will hereinafter be referred to as 'Sale Shares' (OFS).”

The sale will be conducted via the  on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). All eligible bidders will be allotted OFS equity shares at a floor price of Rs 10 per share, the company added.

Waaree Energies is the promoter of Indosolar Ltd.

The company is among India’s leading renewable energy firms, with a global installed capacity of 15 gigawatts (GW) for  .This includes 1.3 GW from Indosolar and 1.6 GW from its Texas-based facility in the United States. It also operates a 1.4 GW solar cell manufacturing unit, with plans to expand by an additional 5.4 GW.

Last week, the clean energy player secured $176 million from a U.S.-based independent power producer to supply 586 MW of solar modules. Waaree Solar Americas’ Texas facility will manufacture the modules for four projects, scheduled for delivery in FY26–27.

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