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Waaree Energies Ltd. has confirmed that the Promoter and Promoter Group, including persons acting in concert, have not encumbered any shares held during the financial year ended March 31, 2025. Following the approval of a Corporate Insolvency Resolution Process (CIRP) and a resolution plan allowing Waaree to acquire a 96.15% stake in Indosolar Limited, the previous promoters' shares were extinguished, effectively reducing their capital holding to zero. With a new structure in place, investor sentiment may view this as a positive outlook due to the clarity of ownership, although potential risks linger regarding the transition and restructuring process.