The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Gopalkumar Baldha & Others
Awaiting price reaction for this filing.
Gopalkumar Baldha along with persons acting in concert (Kajal Gopal Baldha and Punitbhai Bavanjibhai Lakkad) have sold their entire holding of 4,70,907 shares (23.78% of total equity capital) in Onix Solar Energy Ltd through the open market. The sale happened in two tranches: 7,620 shares between April 1 and May 10, 2025, and 4,63,287 shares on May 15, 2025. The buyers/entities are confirmed as NOT belonging to the promoter or promoter group. After the sale, their holding stands at zero shares (0%), meaning a complete exit from the company. The filing was made under Regulation 29(2) of SEBI (SAST) Regulations, 2011 because the transaction crossed the 5% disclosure threshold. Total equity share capital of the company is 19,80,000 shares of Re.10 each.
This is a significant supply event for the stock, as nearly a quarter of the company's shares changed hands in about six weeks via open market. Retail investors should note that a non-promoter large holder has fully exited, which could indicate weak confidence from this shareholder or simply a portfolio decision. With zero holding left, there is no overhang risk from this particular seller going forward, but the price action during the sale period (April-May 2025) would be worth checking.