Waaree Energies shareholders and shareholding pattern

NSE: WAAREEENERBSE: 544277Electrical EquipmentMid Cap

₹2,354.90₹15.10 (0.64%)BSE ₹2,341.00

Share price at the NSE close on 23 Oct 2026. Previous close ₹2,370.00.

52-week range of traded prices to 23 Oct 2026

₹2,281.80Low, 9 Oct 2026₹3,643.00High, 27 Oct 2025

Next results date: the board meets on 27 Oct 2026 to consider: financial results.

Market cap: ₹67,739 Cr124th largest listed
P/E: Earlier quarters restated in the year
P/B: 4.7
Dividend yield: 0.17%
ROCE: 29.8%
Debt to equity: 0.17
Volume, NSE: 7,57,51942.1% delivered

Who owns Waaree Energies, filing by filing

Per cent of the company's shares. Every filing on record, from Dec 2024; the latest is the filing for Sep 2026.

Sep 2026 filing

Promoters64.12%
Foreign institutions8.57%
Indian institutions4.09%
Individuals and others23.22%

Shareholding pattern, per cent

Promoters
Foreign institutions
Indian institutions
Individuals and others

Per cent	Dec 2024Filed 13 Jan	Mar 2025Filed 9 Apr	Jun 2025Filed 4 Jul	Sep 2025Filed 9 Oct	Dec 2025Filed 9 Jan	Mar 2026Filed 13 Apr	Jun 2026Filed 8 Jul	Sep 2026Filed 15 Oct
	64.30%	64.30%	64.30%	64.22%	64.22%	64.19%	64.12%	64.12%
Indian promoters	64.30%	64.30%	64.30%	64.22%	64.22%	64.19%	64.12%	64.12%
	35.70%	35.70%	35.70%	35.78%	35.78%	35.81%	35.88%	35.88%
	1.40%	0.70%	2.68%	6.35%	6.91%	7.05%	8.57%	8.57%
Foreign portfolio investors, category I	1.40%	0.69%	2.53%	6.13%	6.69%	6.82%	8.34%	8.32%
Foreign portfolio investors, category II	Under 0.01%	0.01%	0.15%	0.22%	0.22%	0.24%	0.23%	0.25%
	2.70%	2.46%	2.86%	2.82%	2.86%	4.32%	4.08%	4.09%
Mutual funds	1.44%	1.07%	1.42%	1.32%	1.31%	2.98%	2.81%	2.71%
Insurance companies	0.19%	0.09%	0.04%	0.04%	0.13%	0.12%	0.20%	0.09%
Banks	0.05%	0.00%	–	0.02%	0.02%	0.00%	0.05%	0.06%
Provident and pension funds	0.01%	0.00%	–	–	0.00%	0.00%	0.00%	0.00%
Alternative investment funds	1.00%	1.30%	1.40%	1.44%	1.40%	1.22%	1.02%	1.16%
Non-bank lenders registered with RBI	0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%
	0.00%	0.00%	–	–	0.00%	0.00%	0.00%	0.07%
Bodies Corporate	–	–	–	–	–	–	–	0.03%
Trust	–	–	–	–	–	–	–	0.04%
	31.60%	32.54%	30.16%	26.60%	26.01%	24.44%	23.23%	23.22%
Resident individuals, up to ₹2 lakh at face value	7.92%	8.64%	8.28%	7.34%	7.53%	7.31%	8.25%	9.26%
Resident individuals, over ₹2 lakh at face value	15.28%	15.42%	13.68%	11.97%	11.43%	10.11%	7.89%	7.61%
Companies	3.28%	3.31%	3.03%	2.47%	2.43%	2.39%	2.29%	2.18%
Non-resident Indians	0.81%	0.83%	0.81%	0.68%	0.64%	0.58%	0.60%	0.57%
Foreign companies	2.17%	2.17%	2.17%	1.92%	1.91%	1.91%	1.91%	1.91%
Key managers	0.62%	0.62%	0.62%	0.65%	0.65%	0.72%	0.70%	0.70%
	1.50%	1.54%	1.56%	1.57%	1.42%	1.42%	1.59%	0.99%
Clearing Members	Under 0.01%	Under 0.01%	0.01%	0.24%	0.20%	0.18%	0.22%	0.30%
Hindu undivided families	0.80%	0.81%	0.81%	0.70%	0.67%	0.66%	0.64%	0.57%
LLP	0.70%	0.72%	0.75%	0.61%	0.53%	0.55%	0.67%	0.11%
Trusts	Under 0.01%	Under 0.01%	Under 0.01%	0.02%	0.02%	0.03%	0.05%	0.01%
Shares in issue	28,72,83,199	28,72,83,199	28,72,83,199	28,76,40,905	28,76,40,905	28,76,51,335	28,76,51,335	28,76,51,335
Shares locked in	25,98,44,048	25,37,37,142	10,24,29,804	10,24,29,804	5,74,57,640	5,74,57,640	5,74,57,640	5,74,57,640
Promoters' shares locked in	18,47,34,083	18,47,34,083	10,24,29,804	10,24,29,804	5,74,57,640	5,74,57,640	5,74,57,640	5,74,57,640

A dash is a line the filing did not state. “Under 0.01%” is a holding of shares too small to show at two decimals.

Number of Waaree Energies shareholders

Shareholders on the company's register in each filing.

Shareholders, filing by filing

Shareholders	Dec 2024Filed 13 Jan	Mar 2025Filed 9 Apr	Jun 2025Filed 4 Jul	Sep 2025Filed 9 Oct	Dec 2025Filed 9 Jan	Mar 2026Filed 13 Apr	Jun 2026Filed 8 Jul	Sep 2026Filed 15 Oct
All shareholders	7,67,963	8,51,028	7,67,267	6,90,025	6,95,699	6,83,301	7,31,601	7,78,086
	15	15	11	10	10	10	10	11
Indian promoters	15	15	11	10	10	10	10	11
	7,67,948	8,51,013	7,67,256	6,90,015	6,95,689	6,83,291	7,31,591	7,78,075
	62	43	120	382	462	487	533	503
Foreign portfolio investors, category I	57	38	111	366	443	465	510	482
Foreign portfolio investors, category II	5	5	9	16	19	22	23	21
	61	62	67	73	68	73	75	83
Mutual funds	17	21	21	22	23	27	28	24
Insurance companies	12	11	7	7	7	7	8	9
Banks	1	0	–	1	1	0	1	2
Provident and pension funds	1	0	–	–	0	0	0	0
Alternative investment funds	25	24	32	38	33	35	34	35
Non-bank lenders registered with RBI	5	6	7	5	4	4	4	6
	0	0	–	–	0	0	0	7
Bodies Corporate	–	–	–	–	–	–	–	2
Trust	–	–	–	–	–	–	–	5
	7,67,825	8,50,908	7,67,069	6,89,560	6,95,159	6,82,731	7,30,983	7,77,489
Resident individuals, up to ₹2 lakh at face value	7,49,920	8,31,019	7,46,653	6,70,288	6,76,046	6,63,073	7,08,957	7,53,866
Resident individuals, over ₹2 lakh at face value	241	243	231	216	202	185	163	140
Companies	974	1,057	1,228	1,092	986	1,056	1,305	1,486
Non-resident Indians	4,954	6,030	6,845	6,904	6,787	7,405	8,497	9,385
Foreign companies	1	1	1	1	1	1	1	1
Key managers	4	4	4	4	4	4	4	4
	11,731	12,554	12,107	11,055	11,133	11,007	12,056	12,607
Clearing Members	9	8	7	59	50	43	42	42
Hindu undivided families	11,578	12,387	11,898	10,832	10,929	10,776	11,777	12,420
LLP	136	150	194	157	143	169	219	134
Trusts	8	9	8	7	11	19	18	11

A dash is a line the filing did not state.

Waaree Energies promoters

Promoters are the founders, families and companies that control the company, as its filings name them. Every member of the promoter group holding shares in the filing for Sep 2026; the largest is C.T. Doshi Family Trust, 44.14%. The filing names 53 more members with no shares.Promoter buying and selling

Holder
C.T. Doshi Family TrustIndian companies, trusts and others	44.14%	12,69,82,903	0.00%
Waaree Sustainable Finance Private Limited (Formerly Mahavir Thermoequip Private Limited)Indian companies, trusts and others	18.34%	5,27,67,331	100.00%
Chimanlal Tribhuvandas DoshiIndividuals and Hindu undivided families	1.63%	46,90,309	100.00%
Waaree ESS Private LimitedIndian companies, trusts and others	0.00%	10	0.00%
Ankit Hitesh DoshiIndividuals and Hindu undivided families	0.00%	10	0.00%
Bindiya Kirit DoshiIndividuals and Hindu undivided families	0.00%	10	0.00%
Binita Hitesh DoshiIndividuals and Hindu undivided families	0.00%	10	0.00%
Nipa Viren DoshiIndividuals and Hindu undivided families	0.00%	10	0.00%
Pujan Pankaj DoshiIndividuals and Hindu undivided families	0.00%	10	0.00%
Rushabh Pankaj DoshiIndividuals and Hindu undivided families	0.00%	10	0.00%
Sonal Tarun RamaniIndividuals and Hindu undivided families	0.00%	1,400	0.00%

No promoter shares are reported as pledged. Locked in is the share of the holder's own shares that cannot be sold yet, as after a listing or an allotment.

Largest public holders of Waaree Energies, filing by filing

Per cent, on the same shares as the split above.Mutual funds holding Waaree Energies

Holder	Dec 2024Filed 13 Jan	Mar 2025Filed 9 Apr	Jun 2025Filed 4 Jul	Sep 2025Filed 9 Oct	Dec 2025Filed 9 Jan	Mar 2026Filed 13 Apr	Jun 2026Filed 8 Jul	Sep 2026Filed 15 Oct
Kalpraj Damji DharamshiResident individuals, over ₹2 lakh at face value	2.32%	2.32%	2.31%	2.22%	2.25%	2.25%	2.12%	2.09%
V.T. ENERGY SRLForeign companies	2.17%	2.17%	2.17%	1.92%	1.91%	1.91%	1.91%	1.91%
Het Paresh MehtaResident individuals, over ₹2 lakh at face value	1.22%	1.22%	1.06%	–	–	–	–	–
Madhuri Madhusudan KelaResident individuals, over ₹2 lakh at face value	1.16%	1.16%	–	–	–	–	–	–

A filing names every holder above one per cent, in the company's own words: an insurer's holding can carry one of its funds' names. Mutual funds are left out here: each fund's holding is on the Mutual funds tab, from its own portfolio. A dash is a filing that did not name the holder, which includes holding under one per cent.