Onix Solar Energy Ltd — Important, 15-05-2026: Company Update

Onix Solar Energy Limited has disclosed its monitoring report on the utilization of proceeds from a Right Issue of Equity Shares, which successfully raised 249.86 Cr. The report, issued by Brickwork Ratings, confirms that all funds raised have been fully utilized by the company for the purposes outlined in the offer documents for the quarter ended March 31, 2026. This utilization includes allocations for working capital, capital expenditure for machinery, investment in NOPL Pace Green Energy Private Limited, and general corporate purposes. A minor adjustment of 0.04 Cr was made from general corporate purposes to cover issue-related expenses. The report indicates no deviation from the stated objects of the issue.