Onix Solar Energy Limited has allotted 1,17,97,736 fully paid-up equity shares at ₹51 per share, raising ₹6016.85 Lakhs through a rights issue. The Rights Issue Committee approved the allotment on June 02, 2026, following the issue's closure on June 01, 2026. The shares were issued to eligible shareholders and renouncees at a face value of ₹10 each, including a premium of ₹41 per share.

The rights issue opened on May 25, 2026, and was managed in consultation with MUFG Intime India Private Limited, the Registrar to the Issue. BSE Limited, the designated stock exchange, approved the basis of allotment. The issue was approved by the board on April 17, 2026, with the record date and other terms finalized on May 11, 2026.

Pursuant to the allotment, the company's paid-up equity share capital increased from ₹25,07,01,900 to ₹36,86,79,260. The number of equity shares rose from 2,50,70,190 to 3,68,67,926. The Rights Issue Committee meeting commenced at 6:50 p.m. IST and concluded at 7:05 p.m. IST on June 02, 2026.

Share Capital Details

The rights issue was priced at ₹51 per share, including a premium of ₹41 per share. The allotment was finalized in accordance with the Letter of Offer dated May 11, 2026. The company's managing director, Piyush Savaliya, signed the intimation to BSE Limited.

The company has published the basis of allotment in compliance with Regulation 92(1) of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirement Regulations, 2018. The advertisement was published on June 04, 2026, in the print and electronic versions of Jansatta Hindi, Financial Express English, and Mumbai Lakshdeep Marathi. A copy is available on the company website at www.onixsolarenergy.com .

Onix Solar Energy Limited returned to profitability in the financial year ended March 31, 2026, reporting a consolidated net profit of ₹5,253.57 lakh compared to a net loss of ₹168.34 lakh in the previous year. The company's revenue from operations for FY26 rose to ₹24,085.24 lakh, driven by the inclusion of its newly acquired subsidiary, Nexgenix Solar Manufacturing Private Limited. The Board of Directors approved the audited standalone and consolidated financial results on April 23, 2026, and subsequently submitted a revised audit report to the Bombay Stock Exchange on May 26, 2026, pursuant to Regulation 33 of the SEBI (LODR) Regulations, 2015.

The company's standalone performance also showed strong growth, with a net profit of ₹4,019.39 lakh for FY26, up from ₹145.39 lakh in the prior year. Standalone revenue from operations increased to ₹15,711.79 lakh. The financial results were subject to a limited review and audit by M/s. A H Mandaliya & Associates, Statutory Auditors, who issued an unmodified opinion on the consolidated financial statements. The audit confirmed that the results present a true and fair view in conformity with Indian Accounting Standards.

Consolidated Financial Performance

The turnaround in the consolidated results was primarily attributed to the acquisition of a 99% equity stake in Nexgenix Solar Manufacturing Private Limited during the year, which became a subsidiary under Ind AS 110. Consequently, the consolidated financial statements include the results of this subsidiary from the date of acquisition, making prior period figures not fully comparable. The subsidiary contributed total assets of ₹7,286.82 lakh and revenues of ₹8,37,345 lakh for the year ended March 31, 2026.

Standalone Financial Results

On a standalone basis, the company recorded a significant increase in profitability and revenue. The total comprehensive income for the year stood at ₹4,019.39 lakh. The company raised capital through the issue of shares, which bolstered its equity base. The balance sheet reflects a total asset base of ₹80,544.31 lakh as of March 31, 2026, a substantial increase from ₹3,937.94 lakh in the previous year, largely due to investments and trade receivables.

The company noted that there were no investor complaints pending or received during the quarter ended March 31, 2026. The revised submission to the exchange clarified that there was no change in the financial figures themselves, but addressed a procedural query regarding the attachment of the consolidated audit report.