Onix Solar Energy Limited has received an open offer from Onix Renewable Limited, along with persons acting in concert (PACs), to acquire a significant stake in the company. The offer, which comes in compliance with SEBI regulations, aims to purchase 16,27,698 equity shares, representing 6.44% of the emerging voting share capital of Onix Solar Energy Limited.

Offer Details

The offer price of ₹264.00 per share represents a premium over the current market price. Notably, this price is significantly higher than the 60-day volume-weighted average market price of ₹205.31 on the BSE, where the target company's shares are frequently traded.

Independent Directors' Recommendation

The Independent Directors Committee (IDC) of Onix Solar Energy Limited has reviewed the offer and deemed it fair and reasonable. In their recommendation published on October 15, 2025, the IDC noted that the offer price aligns with SEBI parameters and exceeds the recent market trading price.

Key Points for Shareholders

1. The offer is open to all eligible shareholders of Onix Solar Energy Limited.
2. Shareholders are advised to independently evaluate the offer against current market conditions before making a decision.
3. The offer is being made in compliance with regulations 3(1) and 4 of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Timeline

This open offer represents a significant corporate action in the renewable energy sector, potentially reshaping the ownership structure of Onix Solar Energy Limited. Shareholders and market observers will be keenly watching the outcome of this offer and its implications for the company's future direction.

Investors are encouraged to review the full Letter of Offer and seek professional advice if needed before making any investment decisions related to this open offer.

Onix Solar Energy Limited has announced a significant move in the solar energy sector, allotting 1.85 crore equity shares at Rs. 264.00 per share on a preferential basis to Onix Renewable Limited. This strategic allotment is in exchange for acquiring a 99.99% stake in Nexgenix Solar Manufacturing Private Limited.

Key Details of the Transaction

Timeline and Approvals

Impact on Onix Solar's Capital Structure

Strategic Implications

This acquisition marks a significant step for Onix Solar Energy in consolidating its position in the solar manufacturing sector. By acquiring Nexgenix Solar Manufacturing, the company is poised to enhance its manufacturing capabilities and potentially achieve vertical integration in the solar energy value chain.

Reclassification of Onix Renewable Limited

Onix Renewable Limited, initially classified as a non-promoter, will be reclassified as a promoter following the completion of open offer formalities. This reclassification is due to the acquisition of control and management of Onix Solar Energy.

Open Offer Details

As a result of this substantial acquisition, Onix Renewable Limited is required to make an open offer to the public shareholders of Onix Solar Energy. The open offer is for the acquisition of up to 16,27,698 fully paid-up equity shares, representing 6.44% of the emerging voting share capital, at a price of Rs. 264.00 per share.

This strategic move by Onix Solar Energy underscores the company's ambition to strengthen its position in the solar energy market. Investors and stakeholders will be keenly watching how this acquisition unfolds and its impact on the company's future growth trajectory in the renewable energy sector.