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• Chimanlal Tribhuvandas Doshi acquired 13,19,63,212 equity shares (45.93%) of Waaree Energies Limited on June 24, 2025.
• The shares were acquired as a gift from Hitesh Chimanlal Doshi, Kirit Chimanlal Doshi, Viren Chimanlal Doshi, and Pankaj Chimanlal Doshi, through an inter-se transfer among qualifying persons.
• The disclosure was made under Regulation 10(6) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
• The intimation under Regulation 10(5) was already submitted on June 14, 2025.
• The transfer was carried out without consideration, as an off-market gift of shares from immediate relatives.

• Waaree Energies Limited is strategically realigning components of its planned 6 GW integrated solar manufacturing capacity across multiple geographies.
• The realignment aims to accelerate project momentum, optimize resource utilization, and ensure timely execution in line with IPO objectives.
• Construction activities are ongoing in Odisha, and contracts for the Odisha facility are being executed as planned.
• Dr. Amit Paithankar, Whole-time Director and CEO, emphasized the company's continued commitment to Odisha and its strategic importance in their long-term business roadmap, while exploring meaningful avenues for collaboration.

Waaree Energies Limited's Board of Directors, based on the Audit Committee's recommendation, approved on June 20, 2025, a change in the location of its 6 GW capacity Ingot-Wafers, Solar Cells, and Module manufacturing facility.

• The decision was made due to delays in project execution at the location specified in the Prospectus dated October 23, 2024, to expedite the project and efficiently utilize the Initial Public Offer (IPO) proceeds.
• The revised plan for the 6 GW integrated project includes:
  • 3 GW Modules at Samakhiali, Gujarat
  • 3 GW Modules at Gujarat/Tamil Nadu/any other location
  • 6 GW Cells at Unn, Gujarat
  • 6 GW Ingots and Wafers at Nagpur, Maharashtra
• The total capital expenditure for the revised project remains the same as disclosed in the Prospectus, approximately ₹9,049.59 crore (₹90,495.87 million).
• The change is subject to the approval of the company's shareholders through a special resolution via postal ballot.

Waaree Energies Limited announced the declaration of voting results for its postal ballot, with remote e-voting concluding on Saturday, June 14, 2025. All resolutions proposed in the Postal Ballot Notice dated May 14, 2025, have been passed by the shareholders with the requisite majority. The Scrutinizer’s Report on the results was submitted on Monday, June 16, 2025.

• Appointment of Mr. Rajinder Singh Loona as an Independent Director of the Company (Special Resolution).
• Approval of amendment to the “Waaree - Employee Stock Option Plan 2021” (“ESOP 2021”/ “Plan”) (Special Resolution).
• Approval of extension of the benefits of “Waaree - Employee Stock Option Plan 2021” (“ESOP 2021”/ “Plan”) to eligible employees of the Subsidiary Companies (Special Resolution).
• Appointment of Mr. Ankit Doshi to the office of place of profit (Ordinary Resolution).

• Promoters and promoter group members of Waaree Energies Limited undertook several inter-se transfers of shares via gift.
• On May 23, 2025, 61,942 shares of Waaree Sustainable Finance Private Limited (WSFPL), a promoter of Waaree Energies, were transferred, indirectly transferring 5.69% of Waaree Energies.
• On May 30, 2025, Binita Hitesh Doshi, Bindiya Kirit Doshi, Nipa Viren Doshi and Pujan Pankaj Doshi transferred 5,27,27,955 shares of Waaree Energies, constituting 18.35% of shareholding.
• On May 30, 2025, Hitesh Chimanlal Doshi, Kirit Chimanlal Doshi, Viren Chimanlal Doshi and Pankaj Chimanlal Doshi collectively acquired 5,27,27,955 shares, also constituting 18.35% of the company.
• On June 2 and June 3, 2025, Hitesh Chimanlal Doshi HUF, Kirit Chimanlal Doshi HUF, Viren Chimanlal Doshi HUF and Pankaj Chimanlal Doshi HUF were dissolved, transferring a cumulative 1,93,80,002 equity shares (6.75% shareholding) to the respective Karta of the HUFs.