Onix Solar Energy Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 11/06/2025 ,inter alia, to consider and approve Board Meeting to be held ....
Awaiting price reaction for this filing.
Onix Solar Energy Ltd has informed BSE that its Board of Directors will meet on 11th June 2025 to consider several key matters. The Board will discuss a proposal to acquire 100% equity shareholding (89,99,900 equity shares) in Onix-Tech Renewable Private Limited, a target company in the renewable energy space. Additionally, the Board will consider raising funds through equity shares, convertible bonds, debentures, warrants, or preference shares via private placement, preferential issue, or QIP. The meeting will also address increasing the company's authorised share capital and approving the notice for an Extra-Ordinary General Meeting (EGM) to seek shareholder approval.
This is a significant expansion move — a 100% acquisition combined with a potential equity fund raise could materially increase the company's scale and dilute existing shareholders. Shareholders should watch the post-meeting outcome on 11th June for deal size, valuation, and fundraising quantum, which will directly affect stock price and shareholding.