Postal Ballot Notice
Awaiting price reaction for this filing.
Onix Solar Energy has issued a Postal Ballot Notice dated January 16, 2026 seeking shareholder approval through remote e-voting on four items. Items 1 and 2 seek to regularize Mr. Naman Madhavjibhai Viradiya and Mr. Hardik Kantilal Adhiya as Non-Executive Directors (both appointed as additional directors on December 24, 2025). Item 3 seeks approval to appoint Mr. Piyush Mansukhbhai Savaliya as Managing Director for a five-year term until December 8, 2030 (he was appointed by the Board on December 9, 2025). Item 4 proposes increasing the Authorised Share Capital from Rs. 27 crore to Rs. 47 crore (divided into 4.70 crore equity shares of Rs. 10 each) to support future expansion plans. The remote e-voting window runs from January 23, 2026 to February 21, 2026.
The share capital increase signals possible fundraising or expansion plans in the renewable energy space, which could lead to dilution if new shares are issued against the higher authorised capital. The MD appointment and board additions bring in directors with renewable energy expertise, supporting the company's growth strategy.