Grow House Wealth Management Private Limited ("Manager to the Open Offer") has submitted to BSE a copy of Detailed Public Statement in terms of Regulation 3(1) and 4 read with Regulation ....
Awaiting price reaction for this filing.
Onix Solar Energy Ltd (formerly ABC Gas International) has published a Detailed Public Statement for a mandatory open offer. Acquirer Onix Renewable Limited, along with PACs Divyesh, Piyush, and Khilan Savaliya, is offering to buy up to 16,27,698 equity shares (6.44% of voting capital) from public shareholders at ₹264 per share. The offer size is restricted to the shares held by eligible public shareholders since the promoter group already holds a substantial stake. The target company's FY25 revenue stood at ₹2,938.53 lakhs with a profit after tax of ₹145.39 lakhs and EPS of ₹7.34. Grow House Wealth Management is the manager to the offer, and Motilal Oswal is the buying broker.
Public shareholders can tender their shares at ₹264 per share, which represents a significant premium over the prevailing market price. The Savaliya family is consolidating control over the listed entity, and shareholders should evaluate whether to participate in the offer based on the offer price versus market value.