Letter of Offer for the Right Issue
Awaiting price reaction for this filing.
Onix Solar Energy Ltd has filed the Letter of Offer for a Rights Issue of up to 45,76,305 fully paid-up equity shares of face value ₹10 each at an issue price of ₹546 per share, including a premium of ₹536 per share. The total issue size aggregates up to ₹24,986.63 Lakhs (approximately ₹249.87 Crores). Eligible equity shareholders can subscribe in the ratio of 23 rights shares for every 103 shares held on the record date of February 18, 2026. The issue opens on February 26, 2026 and closes on March 6, 2026, with expected listing on BSE by March 11, 2026. The promoter of the company is Onix Renewable Limited.
Shareholders as on the record date will get the opportunity to buy additional shares at ₹546 per share and need to decide whether to subscribe, renounce, or let the rights lapse. The issue price is 54.6 times the face value, and dilution of equity will occur depending on subscription levels, which may influence short-term share price action.