Indosolar Ltd Board Approves Amalgamation Scheme with Waaree Energies

Indosolar Limited's Board of Directors has approved a draft scheme of amalgamation with Waaree Energies Limited. The amalgamation, subject to regulatory and shareholder approvals, aims to simplify the group structure and create a backward-integrated solar manufacturing entity. The combined entity will benefit from integrated production planning, optimized inventory, and improved domestic content traceability. The rationale includes addressing Indosolar's dependence on external raw material suppliers for cell manufacturing, which currently impacts its profitability and margins. The transaction is considered an 'arm's length' basis despite the companies being related parties.