Onix Solar Energy Ltd — Updates, 01-01-1970: Company Update

Onix Renewable Limited, along with three persons acting in concert, has announced an open offer to acquire up to 16.28 lakh equity shares (6.44% of emerging voting share capital) of Onix Solar Energy Limited at ₹264 per share, totaling about ₹43 Cr in cash. This follows a board-approved preferential allotment of over 2.33 crore shares (73.2% of emerging voting capital) to Onix Renewable against acquisition of shares in Onix-Tech Renewable Private Limited. Post-transaction, the acquirer and associates will hold 74.59%, becoming the new promoter group. The acquirer intends to maintain the company's listing with no delisting proposed.