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

Onix Renewable Limited has announced a board meeting to consider the financial results for the quarter and half-year. Concurrently, it has launched a mandatory open offer to acquire up to 16.27 lakh equity shares (6.44% of emerging voting share capital) of Onix Solar Energy Limited at ₹264 per share, triggered by a proposed preferential allotment of over 1.85 crore equity shares (73.20% of emerging voting capital) to Onix Renewable. This allotment includes a share swap for acquiring Nexgenix Solar Manufacturing Private Limited, consolidating solar manufacturing operations under the target company. Post allotment, Onix Renewable and related parties will hold approximately 74.6% stake and control of the company. The open offer period runs from August 1 to August 14, 2025. The acquisition aims to enhance vertical integration and operational efficiency in solar energy manufacturing, benefiting shareholders through expanded product offerings and improved competitiveness. The open offer consideration is backed by firm financial arrangements and an escrow account. The transaction is subject to shareholder approval and requisite regulatory consents.