Onix Solar Energy Ltd — Updates, 11-06-2025: Company Update

Onix Solar Energy Limited has announced a board meeting outcome approving an increase in authorized share capital from Rs. 5 Cr to Rs. 27 Cr, subject to shareholder approval. The board approved raising the investment/loan limit to Rs. 700 Cr, also pending approvals. A major acquisition was approved for 99.99% stake in Onix-Tech Renewable Private Limited, a solar module manufacturer with Rs. 99.69 Cr turnover, valued at around Rs. 489 Cr via share swap. The acquisition aims to vertically integrate and scale manufacturing operations. Preferential issues totaling 2.33 crore shares at Rs. 264/share were approved for existing and new investors. CRISIL Rating Limited was appointed as monitoring agency. An EGM will be held for shareholders to approve these decisions.