MONITORING AGENCY REPORT FOR FUND UTILISATION FOR MARCH 2026 QUARTER.
Awaiting price reaction for this filing.
Onix Solar Energy Ltd has submitted its First and Final Monitoring Agency Report for the quarter ended March 31, 2026. The company raised Rs. 249.86 Crore through a Right Issue of 45,76,305 equity shares at Rs. 546 per share between February 26, 2026 and March 6, 2026. Brickwork Ratings India Private Limited, the monitoring agency, confirmed that all proceeds have been fully utilized for the stated purposes: Rs. 125 Crore for working capital, Rs. 36 Crore for capital expenditure on machinery, Rs. 50 Crore for investment in subsidiary Pace Green Energy Private Limited, and Rs. 38.32 Crore for general corporate purposes. A minor adjustment was made where issue-related expenses exceeded estimates by Rs. 4 lakhs, which was adjusted from the GCP allocation as permitted under the Letter of Offer. No deviations from the disclosed objects or material variances were observed.
Positive for shareholders as the monitoring agency confirms all funds were deployed as promised with no deviations from the stated objects. The company has demonstrated full utilization of the Rs. 249.86 Crore raise within the monitoring period.