Onix Solar Energy Ltd: Board Approves Rs. 488 Crore Acquisition, Capital Increase, and Other Significant Changes

Onix Solar Energy Ltd held a Board Meeting on June 11, 2025, and approved several key decisions. The company is set to acquire 99.99% equity shareholding of Onix-Tech Renewable Private Limited for a total purchase consideration of Rs. 4,88,76,65,692.00. The acquisition will be through a share swap of up to 1,85,13,885 fully paid-up equity shares of Onix Solar Energy Ltd. Additionally, the company increased its authorized share capital from Rs. 5 Crores to Rs. 27 Crores and the investment limit under Section 186 of the Companies Act, 2013, to Rs. 700 Crores. The company also appointed M/s CRISIL Rating Limited as the Monitoring Agency for the purpose of Issue of Equity Shares. Notice for the Extra-Ordinary General Meeting has been issued, scheduled for July 11, 2025.