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Waaree Energies proposes merging with Indosolar, subject to regulatory approvals
24-Sep-2026, 04:21
Waaree Energies Ltd. announced that its board approved a draft scheme of amalgamation with Indosolar Limited, consolidating the two companies' solar photovoltaic module manufacturing businesses. The amalgamation, subject to regulatory approvals, aims to simplify the group structure, eliminate related-party transactions, and enhance liquidity for Indosolar Limited shareholders through shares in Waaree Energies Ltd. Under the proposed scheme, Indosolar Limited shareholders will receive one share of Waaree Energies Ltd. for every 11 shares held in Indosolar Limited.