Onix Solar Energy Limited has successfully completed its rights issue with the allotment of 45,76,305 fully paid-up equity shares. The Rights Issue Committee meeting approved the allotment at an issue price of ₹546.00 per equity share, including a premium of ₹536.00 per share, in accordance with SEBI Listing Regulations.

Rights Issue Structure and Regulatory Compliance

The rights issue was designed to raise ₹250.00 crores through the issuance of equity shares with a face value of ₹10.00 each. The company has published newspaper advertisements regarding the basis of allotment in compliance with Regulation 92(1) of Securities and Exchange Board of India regulations.

Newspaper Publication and Transparency

In accordance with regulatory requirements, the company published extracts of the newspaper advertisement in multiple publications including Jansatta Hindi (All Editions), Financial Express English (All Editions), and Mumbai Lakshdeep Marathi (All Editions). The advertisement was also made available on the company's website at www.onixsolarenergy.com .

Application and Allotment Details

The company received 1,478 applications aggregating to 68,86,704 Rights Equity Shares. Out of these, 337 applications for 79,82,704 Rights Equity Shares were rejected due to technical reasons, resulting in 1,141 valid applications for 60,91,424 Rights Equity Shares, representing 133.11% subscription of the offered shares.

Capital Structure Enhancement

The successful completion of the rights issue has significantly enhanced the company's capital base. The allotment resulted in a substantial increase in both the paid-up share capital and the total number of outstanding equity shares.

Committee Proceedings and Timeline

The Rights Issue Committee meeting was conducted, with the basis of allotment finalized in consultation with MUFG Intime India Private Limited (formerly Link Intime India Private Limited), which served as the registrar to the issue. BSE Limited acted as the designated stock exchange, providing necessary approvals for the allotment process in accordance with the Letter of Offer dated February 13, 2026.

Managing Director Piyush Savaliya (DIN: 06464445) signed off on the formal communication to BSE Limited, confirming the completion of the allotment process and regulatory compliance.

Onix Solar Energy Limited has made a regulatory disclosure regarding the pledging of shares by its promoter company to secure borrowings. The company, formerly known as ABC Gas (International) Limited, filed the disclosure under Regulation 31 of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Share Pledging Details

Onix Renewable Limited, the promoter company, has pledged a significant portion of its shareholding in the target company to HDFC Bank Limited. The encumbrance was created on February 26, 2026, specifically for securing borrowing arrangements.

Shareholding Structure

Prior to this pledging transaction, Onix Renewable Limited maintained a substantial stake in the company without any existing encumbrances. The current shareholding pattern reflects the impact of the newly created pledge.

Regulatory Compliance

The disclosure was submitted to BSE Limited, where the company's shares are listed under scrip code 513119. The filing ensures compliance with SEBI regulations regarding substantial acquisition of shares and takeovers, specifically addressing the creation of encumbrance on promoter shareholding.

The document was digitally signed by key officials including Piyushkumar Mansukhbhai Savaliya, Managing Director of Onix Solar Energy Limited, and Divyeshkumar M. Savaliya, Director of Onix Renewable Limited. This pledging arrangement represents a standard corporate financing mechanism where promoters utilize their shareholding as collateral for securing business loans and credit facilities.