Board at its meeting held today, i.e. on May 11, 2026, has, inter alia considered, approved and fixed the terms of the rights issue including issue price and Record Date.
Awaiting price reaction for this filing.
Onix Solar Energy's Rights Issue Committee has approved a rights issue of up to 1,17,97,736 fully paid-up equity shares at ₹51 per share (face value ₹10, premium ₹41), aggregating to approximately ₹60.17 Crores. The rights entitlement ratio is 8 shares for every 17 shares held, with Record Date set for May 15, 2026. The issue opens on May 25, 2026 and closes on June 1, 2026. Post-issue outstanding shares will increase from 2.51 crore to 3.69 crore assuming full subscription. The company received in-principle approval from BSE on May 6, 2026.
The rights issue will dilute existing shareholders by approximately 47% on a fully diluted basis. Shareholders who do not participate will see their ownership percentage reduced. The ₹51 issue price is 5.1x face value.