Onix Solar Energy Ltd — Updates, 13-06-2025: Company Update

Onix Solar Energy Limited has announced a board meeting to approve key corporate actions including increasing its authorized share capital from Rs. 5 Cr to Rs. 27 Cr and raising the investment/loan limit to Rs. 700 Cr, subject to shareholder approval. The company has approved acquiring 99.99% equity of Nexgenix Solar Manufacturing Private Limited for Rs. 488.77 Cr via share swap, making it a wholly owned subsidiary. This acquisition aims to consolidate solar module manufacturing and enable vertical integration with expanded capacity. Preferential issues of up to 1.85 Cr shares and 47.99 lakh shares at Rs. 264 each have been approved, along with appointing CRISIL Rating Limited as the monitoring agency. An Extra-Ordinary General Meeting has been scheduled for shareholder approvals.