Onix Solar Energy Limited announced that its board of directors has approved a significant fundraising initiative through a rights issue of up to Rs. 130 crore. The board meeting, held on April 17, 2026, via video conferencing, concluded with the approval of this equity share issuance proposal.

Rights Issue Details

The company's board approved raising funds through the issuance and allotment of equity shares with a face value of Rs. 10 each. The fundraising initiative will be conducted on a rights basis, offering shares to eligible equity shareholders as on the record date, which will be notified at a later stage.

The rights issue is subject to receipt of regulatory and statutory approvals in accordance with applicable laws, including the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, SEBI Listing Regulations, and the Companies Act, 2013.

Committee Formation and Authorization

The board established a Rights Issue Committee as a sub-committee to oversee the proposed equity share issuance. This committee has been authorized to decide all matters relating to the rights issue, including:

• Finalization and approval of detailed terms and conditions
• Determination of the number of equity shares to be issued
• Implementation of the rights issue proposal
• Appointment of various intermediaries for the proposed rights issue

The committee structure ensures focused oversight and efficient decision-making for the fundraising process.

Regulatory Compliance and Filing Details

The announcement was made pursuant to Regulation 30 and other applicable provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company provided detailed information as required under SEBI Listing Regulations and SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.

Meeting Details

The board meeting commenced at 3:55 PM and concluded at 4:00 PM on April 17, 2026. The meeting was conducted through video conferencing, with Managing Director Piyush Mansukhbhai Savalia (DIN: 06464445) signing the official communication to BSE Limited regarding the board's decisions. The company, formerly known as ABC GAS (INTERNATIONAL) LIMITED, has its registered office at A 204, 2nd floor, Rustomjee Central Park, Andheri Kurla Road, Chakala, Andheri East, Mumbai, Maharashtra.

Onix Solar Energy Limited has completed its quarterly regulatory filing with BSE Limited, submitting the mandatory confirmation certificate for securities dematerialized and rematerialized during the quarter ended March 31, 2026. The filing demonstrates the company's adherence to SEBI's depositories regulations and maintains transparency in share transfer processes.

Regulatory Compliance Filing

The company filed the certificate on April 15, 2026, in compliance with Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018. This regulation requires companies to submit quarterly confirmations regarding the dematerialization and rematerialization of their securities through authorized registrar and transfer agents.

Registrar Confirmation Process

MUFG Intime India Private Limited, serving as the company's registrar and transfer agent, issued the confirmation certificate on April 3, 2026. The registrar confirmed that all securities received from depository participants for dematerialization during the quarter were properly processed and confirmed to the depositories within prescribed timelines.

The certificate validates that security certificates received for dematerialization were appropriately verified, mutilated, and cancelled by depository participants. Additionally, the names of depositories were substituted in the register of members as registered owners following proper verification procedures.

Corporate Governance Framework

The filing was digitally signed by Managing Director Piyush Savaliya, ensuring authenticity and compliance with electronic filing requirements. MUFG Intime India Private Limited, formerly Link Intime India Private Limited, operates from its registered address in Vikhroli, Mumbai, and maintains the company's share registry operations.

Market Transparency Measures

This quarterly filing represents standard market practice for listed companies to maintain transparency in share transfer and dematerialization processes. The confirmation ensures that all securities transactions during the quarter were conducted in accordance with SEBI guidelines and that proper records are maintained for investor protection and market integrity.