Outcome Of The Board Meeting Held On Friday, 17Th April, 2026
Awaiting price reaction for this filing.
Onix Solar Energy Ltd's Board of Directors met on 17th April 2026 and approved a fund raising plan through a Rights Issue of equity shares. The company will issue equity shares with a face value of Rs. 10 each, raising up to Rs. 130 crore from existing eligible shareholders. The board has constituted a 'Right Issue Committee' to finalize the detailed terms, including the number of shares to be issued and pricing. The company has also appointed intermediaries to manage the proposed rights issue. The meeting lasted just 5 minutes, indicating this was a pre-decided agenda item. The filing does not specify the intended use of the funds raised.
Existing shareholders will receive rights to purchase additional shares, which may dilute their stake unless they participate. The Rs. 130 crore fund raise could strengthen the company's balance sheet or fund growth plans, depending on the disclosed use of proceeds.