// Workers AI · dad joke modeWhat did Indosolar say to the sun? You're a bright investment.
 | |
| Formerly |
|
|---|---|
| Type | Public |
| ISIN | INE866K01015 |
| Industry | Solar power |
| Founded | 8 April 2005 |
| Founder | Bhushan Kumar Gupta |
| Headquarters | C-12, Friends Colony (East), , India |
Area served | Worldwide |
Key people | H.R. Gupta (MD) |
| Products | |
Production output | 450 MW (2015) |
| Revenue |  ₹318.4352 crore (US$33 million) (FY18) |
| ₹−98.7024 crore (US$−10 million) (FY18) | |
| ₹−162.8352 crore (US$−17 million) (FY18) | |
| Total assets | ₹743.7186 crore (US$77 million) (FY18) |
| Total equity | ₹−456.5296 crore (US$−47 million)[1] (FY18) |
Number of employees | 283[2] (31 March 2016) |
| Website | www |
Indosolar Limited is an Indian photovoltaic cell and solar panel manufacturer. Following insolvency proceedings, it was acquired by Waaree Energies in 2022.
History
[edit]Robin Garments Private Limited was incorporated under the Companies Act on 8 April 2005,[3][4] by Indian entrepreneur Bhushan Kumar Gupta. Gupta had previously founded Phoenix Lamps Ltd., an automotive halogen lamp manufacturer.[5] On 2 July 2008, shareholders decided to rename the company to Robin Solar Private Limited to reflect the company presence in the solar business. The Registrar of Companies (RoC) granted a new certificate of incorporation on 21 July 2008. On 16 September 2009, the Delhi High Court ordered the amalgamation of the two incorporated companies. Per the terms of the amalgamation, the company's status was changed from a private limited company to a public limited company, and it was renamed Indosolar Limited. The RoC granted new certificates of incorporation confirming the new status and name on 12 October and 30 October 2009 respectively.[3]
On 13 June 2014, Indosolar secured a contract with Azure Power to supply 60 MW of solar power. This was the single largest solar contract of India's National Solar Mission.[6][7]
Insolvency and acquisition
[edit]After sustained financial losses, Indosolar was admitted to the corporate insolvency resolution process under the Insolvency and Bankruptcy Code, 2016. On 21 April 2022, the National Company Law Tribunal approved a resolution plan submitted by Waaree Energies to acquire the company, which raised Waaree's solar-cell manufacturing capacity to 5.4 GW.[8][9]
References
[edit]- ↑ "Annual Report 2018" (PDF). Indosolar. Retrieved 24 March 2019.
- ↑ "Solar cell maker Indosolar Ltd reports loss of Rs 29.77 crore for march - The Economic Times". The Economic Times. 30 May 2016. Retrieved 6 November 2016.
- 1 2 "Indosolar > Company History > Miscellaneous > Company History of Indosolar". www.moneycontrol.com. Retrieved 6 November 2016.
- ↑ "Indosolar Annual Report 2016" (PDF). www.indosolar.co.in. Archived from the original (PDF) on 7 November 2016. Retrieved 6 November 2016.
- ↑ "Who We Are". www.indosolar.co.in. Retrieved 6 November 2016.
- ↑ "Indosolar inks contract with Azure Power". The Hindu Business Line. 13 June 2014. Retrieved 6 November 2016.
- ↑ Reporter, B. S. (13 June 2014). "Indosolar bags largest solar cell contract". Business Standard India. Retrieved 6 November 2016.
- ↑ "Waaree Energies gets NCLT approval to acquire Indosolar". The Federal. April 2022. Retrieved 1 July 2026.
- ↑ "Waaree Energies Receives NCLT's Nod For Acquisition of Indosolar Ltd". Saur Energy International. Retrieved 1 July 2026.
See also
[edit]  | This article about an Indian company is a stub. You can help Wikipedia by adding missing information. |
- Photovoltaics manufacturers
- Manufacturing companies based in Delhi
- Indian companies established in 2005
- Companies based in New Delhi
- Solar energy companies of India
- Indian brands
- 2005 establishments in Delhi
- Manufacturing companies established in 2005
- Energy companies established in 2005
- Companies formerly listed on the National Stock Exchange of India
- Companies formerly listed on the Bombay Stock Exchange
- Indian company stubs