From penny stock to solar sector resurgence: Indosolar re-enters stock market with Rs 165 listing price, boosted by FY25 profits and Waaree takeover
New Delhi, June 19, 2025 — In a stunning market debut after a three-year hiatus, Indosolar Ltd, now owned by Waaree Energies, resumed trading at ₹165.06 apiece, marking a 1,600% jump from its indicated previous close of ₹9.71. Once considered a penny stock, the solar cell manufacturer now boasts a market capitalisation of ₹686.71 crore.
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📉 Stock Suspension to Stellar Return
- Last traded in June 2022, Indosolar was suspended from the exchanges due to procedural reasons.
- Back in June 2022, its last traded price was a mere ₹3.21—reflecting the company’s dire financial state.
- The stock hadn’t touched double digits since 2015, and its sharp return to form today is nothing short of remarkable.
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🌞 Waaree Energies’ Strategic Revival
- Waaree Energies, which holds 96.15% stake in Indosolar (as of March 31, 2025), is spearheading the company’s turnaround.
- Indosolar was earlier dragged into insolvency proceedings in 2018 due to financial distress.
- Post-acquisition, the company posted a net profit of ₹55 crore in FY25, a sharp reversal from its ₹15.44 crore loss in FY24.
📈 Listing Framework and Public Float
- Shares of Indosolar now trade under the scrip ID “WAAREEINDO” in the ‘T’ Group, meaning no intraday trading is allowed.
- Trading is capped with a 5% upper circuit limit for the first ten sessions.
- Waaree offloaded 4.76 lakh shares via OFS on June 5–6 to meet the minimum public shareholding requirement of 25%.
- As of now, retail investors own 13.69 lakh shares (3.29%), while Bank of Baroda and various HUFs also hold minority stakes.
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🔍 Key Financial and Ownership Details
| Particulars | Value |
|---|---|
| Previous Close | ₹9.71 |
| Relisting Price | ₹165.06 |
| Market Cap | ₹686.71 crore |
| FY25 Net Profit | ₹55 crore |
| FY24 Net Loss | ₹15.44 crore |
| Promoter Holding (Waaree) | 96.15% |
| Retail Ownership | 3.29% |
📌 Investor Takeaway
The relisting of Indosolar signifies a major turnaround story in India’s clean energy sector, driven by strategic acquisition, improved profitability, and regulatory compliance. While the astronomical surge may temper in coming sessions due to circuit filters, the stock has quickly emerged as a solar revival case to watch on Dalal Street.
Tags: Indosolar Ltd, Waaree Energies, Stock Market Relisting, Penny Stocks, Solar Energy, NSE, BSE, OFS, Public Shareholding Norms, Renewable Energy, Market Cap, Stock Rally
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