Indosolar

Indosolar's board approved a draft scheme of amalgamation merging the company into Waaree Energies under Sections 230 to 232 of the Companies Act on 23 September 2026. Under the terms, public shareholders were to receive one Waaree Energies share of Rs10 each for every eleven Indosolar shares held on the record date, with promoter-held shares cancelled and Indosolar dissolved without winding up on effectiveness. The scheme, backed by a joint exchange-ratio report from two registered valuers and a fairness opinion from ITI Capital, remains subject to approvals from the BSE, NSE, the National Company Law Tribunal and shareholders and creditors. Indosolar operates a 1.3 GW solar module plant at Noida as a subsidiary of Waaree Energies, with promoter holding at 74.93% after a September 2025 offer for sale. The company reported revenue of Rs679.85 crore and net profit of Rs246.60 crore in FY26 and turned debt-free by March 2026, while recent quarters showed a shift to tolling contracts that depressed revenue but lifted EBITDA margins above 70%. Total assets stood at Rs404.92 crore against Rs23,798.16 crore for Waaree Energies, with turnover of Rs68.36 crore versus Rs6,221.67 crore for the transferee.

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Sept 23 (Reuters) - India's Waaree Energies WAAN.NS will merge group-firm Indosolar INDL.NS with the company in a deal worth 9.5 billion rupees ($99.23 million), the solar module manufacturers said on Wednesday.

Under the merger, Indosolar shareholders will receive 1 share of Waaree Energies for every 11 shares held.

The merger will integrate cell and module manufacturing under one entity, which the companies said would lead to cost savings and simplify the group structure.

Waaree Energies and Indosolar both make solar photovoltaic modules, but Indosolar does not have its own cell production capacity and depends on Waaree Energies and other manufacturers for cells, the companies said.

($1 = 95.7400 Indian rupees)

(Reporting by Nishit Navin; Editing by Tasim Zahid and Leroy Leo)

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** Shares of Indosolar INDL.NS down 5% at 513.85 rupees

** Stock set to snap six-session winning streak

** Co's Q4 rev from ops fell 56.7% year‑on‑year to 831 million rupees ($8.91 million); Q4 PAT up 5% y/y

** YTD, INDL down 5.2%

($1 = 93.3000 Indian rupees)

(Reporting by Brijesh Patel in Bengaluru)

(([email protected]; Ph no. +91 9590227221;))

April 20 (Reuters) - Indosolar Ltd INDL.NS:

• INDOSOLAR LTD - APPOINTS ABHISHEK PAREEK AS CHIEF FINANCIAL OFFICER EFFECTIVE APRIL 20, 2026

Source text: ID:nBSE7mgqk1

Further company coverage: INDL.NS

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March 20 (Reuters) - Indosolar Ltd INDL.NS:

• SONAL SHRIVASTAVA RESIGNS AS CHIEF FINANCIAL OFFICER EFFECTIVE MARCH 20, 2026

Source text: ID:nBSE5TFdPK

Further company coverage: INDL.NS

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July 9 (Reuters) - Indosolar Ltd INDL.NS:

• WAAREE ENERGIES TO SELL UP TO 1 MILLION SHARES OF INDOSOLAR VIA OFFER FOR SALE

• FLOOR PRICE FOR THE OFFER AT 265 RUPEES/SHARE

Source text: ID:nBSE8sZ1gk

Further company coverage: INDL.NS

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