The Board of Directors at meeting held today i.e May 11,2026 has fixed the Record Date for the purpose of Right Issue i.e. Friday May 15,2026
Awaiting price reaction for this filing.
Onix Solar Energy's Rights Issue Committee has approved a rights issue of up to ₹6,500 Lakhs (approx. ₹60.17 Crores assuming full subscription), comprising 1,17,97,736 fully paid-up equity shares at ₹51 per share (face value ₹10 + premium ₹41). The rights entitlement ratio is 8 new shares for every 17 shares held. The record date for determining eligible shareholders is Friday, May 15, 2026. Prior to the issue, the company has 2,50,70,190 equity shares outstanding, which will increase to 3,68,67,926 post-issue (assuming full subscription). The issue opens on May 25, 2026 and closes on June 1, 2026, with listing expected by June 4, 2026.
The ₹65 crore rights issue will dilute existing shareholders by ~47% (assuming full subscription). Shareholders who do not participate will face ownership reduction. The steepness of dilution depends on the current market price versus the ₹51 issue price.