Board at its Meeting held today i.e on May 11,2026 considered and approved the Terms of the Right Issue
Awaiting price reaction for this filing.
Onix Solar Energy's Rights Issue Committee approved a rights issue of up to ₹60.16 Crores (approximately ₹6016.85 Lakhs) through the issuance of 1,17,97,736 fully paid-up equity shares at ₹51 per share (face value ₹10, premium ₹41). Existing shareholders on the record date (May 15, 2026) will receive rights in the ratio of 8 shares for every 17 shares held. The issue opens on May 25, 2026 and closes on June 1, 2026, with listing expected on June 4, 2026. Post-issue outstanding shares will increase from 2,50,70,190 to approximately 3,68,67,926 assuming full subscription. BSE granted in-principle approval on May 6, 2026.
This is a dilutive event - existing shareholders who don't participate will see their ownership percentage reduced by ~31.7%. The ~5x ratio indicates significant capital raise relative to current capital structure, which may pressure near-term stock price.