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 Baldha and Punitbhai Lakhad), has sold their entire 4,70,907 shares (23.78% stake) in Onix Solar Energy Ltd through the open market. The disposal was done in two tranches: 7,620 shares between April 1-10, 2025, and 4,63,287 shares on May 15, 2025. Post-sale, their holding stands at 0%, down from 23.78% earlier. The acquirers are not part of the promoter group. The company's total equity capital is 19,80,000 shares of Re.10 each. The disclosure was made under Regulation 29(2) of SEBI SAST Regulations, 2011, which is triggered when a non-promoter holding 5% or more sells at least 2% in a financial year.
This is a complete exit by a sizeable non-promoter shareholder, which could create overhang concerns or indicate lack of confidence, potentially putting downward pressure on the stock. However, since the sellers were not promoters, the company's management and strategic direction remain unaffected.