The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Onix Renewable Ltd
Awaiting price reaction for this filing.
Onix Renewable Limited has purchased 2,82,942 equity shares (14.29%) of Onix Solar Energy Limited from the open market on May 15, 2025. Before this transaction, the acquirer held no shares in the company; after the acquisition, it holds 14.29% of the equity capital. The acquirer, Onix Renewable Limited, has explicitly stated it does not belong to the Promoter/Promoter Group. Persons Acting in Concert (PACs) include Divyeshbhai Savaliya and Piyushbhai Savaliya. Onix Solar Energy has a total equity share capital of 19,80,000 shares of Rs.10 each and is listed only on BSE. The disclosure is filed under SEBI SAST Regulations following the crossing of the 10% substantial acquisition threshold.
A new non-promoter entity has become a significant shareholder with a 14.29% stake in a single open-market transaction, crossing the 10% SAST threshold. This may attract regulatory attention and could trigger an open offer obligation depending on the acquirer's broader holdings. Existing shareholders should monitor for further disclosures and potential open offer announcements.