Onix Solar Energy Limited has successfully completed its rights issue with the allotment of 45,76,305 fully paid-up equity shares on March 09, 2026. The Rights Issue Committee meeting, held on the same date, 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 Timeline

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 offer period ran from Thursday, February 26, 2026, to Friday, March 06, 2026, providing existing shareholders the opportunity to subscribe to new shares in proportion to their existing holdings.

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.

Regulatory Framework and Compliance

The rights issue process was conducted in strict accordance with SEBI Listing Regulations, specifically under Regulation 30(6). The company formally communicated the outcome to BSE Limited, referencing the earlier board meeting outcomes from December 29, 2025, and February 12, 2026, which approved the rights issue framework and established key parameters including record date, issue price, and rights entitlement ratio.

The basis of allotment was 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, acting as the designated stock exchange, provided necessary approvals for the allotment process in accordance with the Letter of Offer dated February 13, 2026.

Committee Meeting Proceedings

The Rights Issue Committee meeting was conducted on March 09, 2026, commencing at 8:00 p.m. IST and concluding at 8:20 p.m. IST. The committee considered and approved the allotment to eligible shareholders and renouncees, ensuring compliance with all regulatory requirements. Managing Director Piyush Savaliya (DIN: 06464445) signed off on the formal communication to BSE Limited, confirming the completion of the allotment process.

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.