Onix Solar Energy Limited has filed a revised disclosure with BSE Limited under Regulation 31 of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, correcting errors in previously submitted information regarding share encumbrance. The company submitted the revised disclosure on 11/03/2026 to rectify inaccuracies in post-event holding details of encumbered shares.

Share Encumbrance Details

The disclosure relates to the creation of encumbrance by promoter entity Onix Renewable Limited on shares of the target company. The encumbrance was created through a pledge arrangement with HDFC Bank Limited on 26.02.2026 for the purpose of securing borrowing facilities.

Shareholding and Encumbrance Structure

Onix Renewable Limited, the promoter entity, maintains a substantial holding in the target company with specific encumbrance arrangements as detailed in the regulatory filing.

The promoter's total shareholding of 18796848 shares represents 91.72% of both total share capital and diluted share capital. Prior to this transaction, no shares were under encumbrance.

Regulatory Compliance

The revised disclosure was necessitated due to errors in the original submission where post-event holding of encumbered shares were erroneously reported. Managing Director Piyush Savaliya, bearing DIN 06464445, signed the communication to BSE Limited requesting the exchange to take the revised disclosure on record.

The filing includes proper authorization from Onix Renewable Limited through Director Divyeshkumar M. Savaliya (DIN: 06464431), who provided digital signature authentication for the regulatory submission. The company's shares are listed on BSE under scrip code 513119 with scrip ID ONIXSOLAR.

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.