Onix Solar Energy Ltd — Board Meeting, 11-06-2025: Board Meeting

Onix Solar Energy Limited has announced a board meeting outcome approving several key actions. The authorized share capital will increase from Rs. 5 Cr to Rs. 27 Cr, subject to shareholder approval. The company raised its investment/loan/guarantee limit to Rs. 700 Cr, pending approvals. It approved acquiring 99.99% stake in Onix-Tech Renewable Private Limited, a solar module manufacturer with a turnover of Rs. 99.69 Cr, via a share swap worth Rs. 488.77 Cr. The target will become a wholly owned subsidiary. The board also approved preferential issues totaling up to 2.33 crore equity shares at Rs. 264 per share to Onix Renewable Limited and other allottees, and appointed CRISIL Rating Limited as the monitoring agency. An EGM has been scheduled to approve these matters.