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Onix Renewable Limited has initiated an open offer to acquire 1.63 Crore equity shares (6.44% of Onix Solar Energy Limited's emerging voting capital) at ₹264 per share. This follows a preferential allotment, enabling Onix Solar to acquire Nexgenix Solar Manufacturing, a strategic move for vertical integration and expanded solar product offerings. This acquisition aims to reduce costs and boost market competitiveness. Post-offer, Onix Renewable and associated individuals will hold over 81% of Onix Solar. The total offer consideration is ₹42.97 Crore, backed by the acquirer's robust financial resources, including a net worth exceeding ₹705 Crore. Independent directors will provide their view on the offer to shareholders.