Allotment of 1,17,97,736 fully paid up Equity Shares pursuant to the Right Issue
Awaiting price reaction for this filing.
Onix Solar Energy Ltd has completed its rights issue, allotting 1,17,97,736 fully paid-up equity shares at Rs. 51 per share (including a premium of Rs. 41 over the Rs. 10 face value). The total issue size aggregates to about Rs. 60.17 crore (Rs. 6,016.85 lakhs). The rights offer was open from May 25, 2026 to June 1, 2026. Following this allotment, the company's paid-up equity share capital has risen from Rs. 25.07 crore (2,50,70,190 shares) to Rs. 36.87 crore (3,68,67,926 shares), an increase of roughly 47% in the share count. The allotment was approved by the Rights Issue Committee on June 2, 2026.
The rights issue has raised about Rs. 60 crore in fresh capital for the company but has also expanded the share count by nearly 47%, which dilutes existing shareholders who did not subscribe. Earnings per share may see short-term pressure unless the new capital is deployed efficiently to generate proportionate returns.