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

Onix Renewable Limited, along with its associates, has announced a board meeting to consider a preferential allotment of 1.85 Cr equity shares of Onix Solar Energy Limited at ₹264 per share as consideration for acquiring 89.99 lakh shares of Onix-Tech Renewable Private Limited. Additionally, 47.99 lakh shares will be issued to public investors at the same price, raising the company's equity capital to ₹252.94 Cr. Following this, Onix Renewable and associates will hold 74.59% of Onix Solar and become part of its promoter group. They have launched a cash open offer to acquire up to 6.44% stake from public shareholders at ₹264 per share, totaling ₹43 Cr, to comply with takeover obligations. This move signals a significant change in ownership and control structure, reflecting a strategic consolidation in the renewable energy business.