Indosolar Completes Disbursement Of Fractional Share Sale Proceeds To Eligible Shareholders

Indosolar Limited has informed the stock exchanges about the completion of the sale and disbursement process related to fractional share entitlements arising from the implementation of its approved Resolution Plan. The company stated that the Resolution Plan was approved by the Hon’ble National Company Law Tribunal (NCLT) through an order dated April 21, 2022.

According to the company, the Resolution Plan included a reduction in the paid-up share capital of Indosolar Limited in line with the provisions of the Insolvency and Bankruptcy Code, 2016, and the Companies Act, 2013. As a result of this capital reduction process, some shareholders became entitled to fractional shares, which could not be allotted as complete shares.

To address this issue, the fractional share entitlements of eligible shareholders were consolidated and transferred to M/s MUFG Intime Private Limited, which acted as the Trustee for the process. The Trustee was responsible for selling these consolidated fractional shares in the open market on behalf of the shareholders.

The company further stated that the sale of the fractional shares and the disbursement of the net proceeds to eligible shareholders have now been completed. Indosolar confirmed that the entire process was carried out in compliance with the approved Resolution Plan, the Insolvency and Bankruptcy Code, 2016, the Companies Act, 2013, and the applicable SEBI regulations, including the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Additionally, the company informed that all concerned shareholders were notified about the completion of the process through email communication sent on April 28, 2026.