The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Onix Renewable Ltd
Awaiting price reaction for this filing.
Onix Renewable Limited, a non-promoter entity, has acquired 70,00,000 shares (77.99%) of Sarda Proteins Limited through a preferential allotment upon conversion of warrants into equity shares on 18 March 2026. Before this transaction, Onix held zero shares in the company. As a result, the total equity share capital of Sarda Proteins expanded from 17,25,900 shares to 89,75,900 shares. The acquirer does not belong to the promoter or promoter group of the company. This effectively dilutes the existing promoter holding to roughly 22%, transferring majority ownership of the company to a single non-promoter entity in a single transaction.
This is a major ownership change — a non-promoter group now controls nearly 78% of the company, diluting the original promoters well below the 50% mark. Such a large acquisition in one go may also attract mandatory open offer obligations under SEBI Takeover Regulations, and signals a significant shift in control of Sarda Proteins for shareholders.