After the Waaree takeover, Indosolar’s fortunes improved: the formerly loss-making company posted a net profit of ₹9.48 crore for Q3 of FY25
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Shareholders of erstwhile Indosolar were in for a pleasant surprise last week. Those who thought their investment had vanished saw the stock rise like a phoenix.
Indosolar was acquired by Waaree Energies through the Corporate Insolvency Resolution Process (CIRP), which began in 2019. The company had accumulated a debt of ₹2,138 crore. The National Company Law Tribunal (NCLT) approved Waaree Energies’ resolution plan worth ₹189.79 crore, which included a settlement to financial creditors…